Footscray, 3011 ranked 610th in VIC when comparing growth in median property values or capital gain over the last 12 months. Footscray is one of 2099 in our list for VIC
The five-year average increase in median property values for Footscray,3011 has given property investors a potential capital gain of 27.08% across each of those five years.
Property investors looking for a bargain in Footscray should be aiming for at least -7.47% off the asking price, which is the average vendor discount being achieved at the moment.
At number 2360 in a list of fastest selling suburbs, Footscray is in the bottom 40% of suburbs in Australia with an average of days on market 89.6939 for properties listed there.
Footscray, 3011’s gross rental yield is 3.21%
VIC has seen average median house prices change by 2.76% which means that Footscray, 3011 has done well for property investors by showing a capital gain of -0.90% over the last year
The five-year average increase in median property values for Footscray,3011 has given property investors a potential capital gain of 2.20% across each of those five years.
Footscray, 3011 is offering VIC ‘s 148th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this VIC.
At number 832 in a list of fastest selling suburbs, Footscray is in the bottom 40% of suburbs in Australia with an average of days on market 89.9714 for properties listed there.
Renters in Suburb are facing rents around $18850 per annum or $362.5 every week.
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The former industrial zone of Footscray holds a long history of development that shows no sign of slowing down soon.
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.