Property investors who have had real estate in West Footscray, 3012 should be ok 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 5.59%
Taking the average capital gain, or increase in median house value, West Footscray,3012 has racked up an average of 5.59% over the period. This ranks it number 688th in the whole country for real estate investors looking at median house price increases.
The most recent median price for West Footscray is $897500, with sellers offering an average of -2.96% off the asking price.
The VIC suburb of West Footscray, 3012 is in the Maribyrnong local government area.
Over the last year, property investments in West Footscray, 3012 have given investors a capital gain of 0.00%. This compares badly with the 8.22% for VIC as a whole.
If we look at median property appreciation over just the last three months, West Footscray has given property investors a paper return of -0.33%. This puts Suburb as 279 on a list of fastest fasting appreciating suburbs in VIC
Property buyers and investors in West Footscray 3012 should be seeing an average reduction in asking price of around -5.35% . This means that West Footscray is holding prices well when compared to other suburbs in VIC.
At number 845 in a list of fastest selling suburbs, West Footscray is just in the bottom half of suburbs in Australia with an average of days on market 76.57 for properties listed there.
Using the current median advertised rental of $320 and the average annual increase in value of a median property of 5.48%, investors should hope to achieve an overall return of 3.89%
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 yearsFull summary
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Prices drop in inner-city suburb
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.Close