Suburb Profile Report for West Footscray VIC (3012)

West Footscray House: Median price $790,000, Annual capital growth 7.16%, Number of sales 98, Weekly median advertised rent $480

West Footscray Unit: Median price $453,000, Annual capital growth 6.05%, Number of sales 63, Weekly median advertised rent $340

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
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VIC has seen average median house prices change by -1.69% which means that West Footscray, 3012 has not done well for property investors by showing a capital gain of -9.71% over the last year

While West Footscray,3012 ranked number 457th in VIC for increase in median house value (annualised) increase, it is ranked 440th over the last 5 years.

At number 373th of VIC’s most discounted properties, West Footscray is in the TOP 40% of the state/territory when listing in order of most discounted to least.

With the median price for a house in West Footscray being $790000 and the advertised rent reaching $480 the gross rental yield for property investors calculates out to be 3.16%

West Footscray is in the TOP 10% in VIC when comparing median price capital growth over the last year. West Footscray gave property investors a very good capital gain figure when compared to the rest of the state, with 14.68%.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in West Footscray has increased when compared to the 5 year average annual rate.

Vendor discounting in West Footscray is giving property investors an average Vendor Discount of around -5.16%. This puts suburb at number 189th in VIC when ranking the most discounted suburbs.

With the median price for a house in West Footscray being $453000 and the advertised rent reaching $340 the gross rental yield for property investors calculates out to be 3.90%

Information supplied by:


November 2017

M
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Prices drop in inner-city suburb

Postcode: 3012

Median unit price: $385,000

Three-year growth: 2.7%

Rental yield: 4.1%

While there’s been a rapid increase in development here, West Footscray still has a unique, quirky charm. West Footscray, home to Whitten Oval, training ground of the reigning AFL premiers Western Bulldogs, achieved 6.7% price growth over the last five years. 

Just 7km from the CBD, the suburb recorded a median unit price of just $385,000, making it one of the most affordable inner-city areas in Melbourne. With a thriving multicultural community, a vibrant cafe culture and easy access to the city via public transport, Footscray is popular with commuters and families. 

A mix of Victorian and Edwardian-era homes and new builds, with more parks and green space than you would expect of an inner-city metropolitan area, it’s a high-demand market popular with investors, owner-occupiers and renters, particularly university students.

Metrics i HOUSE UNIT
$790,000 $453,000
-1.99% 1.80%
-9.71% 14.68%
7.16% 6.05%
$480 $340
98 63
3.16% 3.90%
67.1111111111111 94.1276595744681

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in West Footscray VIC
Demographics
Total population 10223
Median household income ($/weekly) 1129
Median age of persons 35
Median housing loan repayment ($/monthly) 1800
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 925 9.0
    25-34 years 2140 20.9
    35-44 years 1859 18.2
    45-54 years 1327 13.0
    55-64 years 876 8.6
    Others 3096 30.3
    Age Group
    Census Count Percent(%)
    Not Married 3696 47.3
    Registered Married 3206 41.0
    Defacto Relationship 910 11.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 5453 57.3
    Indonesia 605 6.4
    United Kingdom 233 2.4
    Viet Nam 821 8.6
    Other 891 9.4
    Others 1510 15.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 859 9.3
    Christianity 4668 50.6
    Hinduism 504 5.5
    Islam 577 6.3
    No Religion 2485 26.9
    Others 137 1.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 370 10.4
    $600-$799 340 9.5
    $800-$999 313 8.8
    $1,000-$1,249 342 9.6
    $1,500-$1,999 451 12.6
    Others 1751 49.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 3149 39.6
    Not in the labour force 2548 32.1
    Employed, worked part-time 1518 19.1
    Unemployed, looking for work 399 5.0
    Employed, away from work 333 4.2
    Person Characteristics
  • Census Count Percent(%)
    Professionals 1228 24.6
    Technicians & trades workers 616 12.3
    Community & personal service workers 508 10.2
    Clerical & administrative workers 711 14.2
    Labourers 551 11.0
    Others 1383 27.7
    Occupation
    Census Count Percent(%)
    Infants/Primary 562 24.9
    Secondary 446 19.7
    Technical or Further Educational Institution 294 13.0
    University or other Tertiary Institutions 624 27.6
    Other type of educational institution 187 8.3
    Others 147 6.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 6978 72.8
    Flat, unit or apartment 2052 21.4
    Semi-detached, row or terrace house, townhouse 531 5.5
    House or flat attached to a shop, office 28 0.3
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1497 39.5
    Being purchased 1245 32.8
    Fully owned 1033 27.2
    Other tenure type 19 0.5
    Tenure Type
Census 2011, ABS
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