Property investors who have had real estate in Footscray, 3011 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 13.68%
Footscray,3011 has offered an average of 13.68% return per annum in house price rises to property investors over the last three years.
Sellers are offering property buyers an average discount of -3.97% to buyers in Footscray at the moment, which is less than average for the rest of VIC.
The VIC suburb of Footscray, 3011 is in the Maribyrnong local government area.
Footscray has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -5.92% to date .
Taking the average capital gain, or increase in median house value, Footscray,3011 has racked up an average of -5.92% over the period. This ranks it number 1290th in the whole country for real estate investors looking at median house price increases.
At number 84th of VIC’s most discounted properties, Footscray is in the bottom 30% of the state/territory when listing in order of most discounted to least.
Situated 6.23km from the CBD, Footscray is one of Maribyrnong localities in the postcode 3011.
The former industrial zone of Footscray holds a long history of development that shows no sign of slowing down soonFull summary
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The former industrial zone of Footscray holds a long history of development that shows no sign of slowing down soon.Close
The area screams affordability and with the continued gentrification of the area, there is significant potential for further capital growth.
Compared to other inner city suburbs like Carlton North ($600,000) and Ascot Vale ($455,000), Footscray offers a much more affordable price for units.
Situated 5km west of Melbourne’s CBD, Footscray is well serviced by public transport, shopping centres, parks and recreational centres.
A wide variety of schooling is available, Victoria University maintains two campuses in the area and a multicultural hub provides a wide variety of dining options.
All of these aspects are appealing to a young professional demographic in a big way.
The Maribyrnong City Council continues to put a lot of effort into infrastructure development including rejuvenating Footscray’s Barkly Street Village and other projects like the McNab Avenue Development.