Suburb Profile Report for West Footscray VIC (3012)

West Footscray House: Median price $800,000, Annual capital growth 5.59%, Number of sales 94, Weekly median advertised rent $470

West Footscray Unit: Median price $480,000, Annual capital growth 4.76%, Number of sales 76, Weekly median advertised rent $350

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

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

Over the last year, property investments in West Footscray, 3012 have given investors a capital gain of -5.74%. This compares very badly with the 2.87% for VIC as a whole.

While West Footscray,3012 ranked number 106th in VIC for increase in median house value (annualised) increase, it is ranked 530th over the last 5 years.

Sellers are offering property buyers an average discount of -7.47% to buyers in West Footscray at the moment, which is less than average for the rest of VIC.

A $470 per week rent on the median house gives suburb investors a gross yield of circa 3.06%, without taking into account capital value appreciation, which has been averaging out at 5.59%.

Giving property investors a a solid capital gain of 11.50% for the last year, West Footscray, 3012 is the 223th highest performer in Australia in this respect.

West Footscray,3012 has offered an average of 11.50% return per annum in house price rises to property investors over the last three years.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.98% offered to property buyers. Sellers in West Footscray itself are offering an average vendor discount of -4.96% to real estate investors.

Situated 8.39km from the CBD, West Footscray is one of Maribyrnong (C) localities in the postcode 3012.

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
$800,000 $480,000
4.85% -1.29%
-5.74% 11.50%
5.59% 4.76%
$470 $350
94 76
3.06% 3.79%
78.4516129032258 89.0727272727273

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Above average (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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