Footscray

POSTAL CODE: VIC, 3011

HOUSE

UNIT

FOOTSCRAY ranks 459th in VIC when it comes to estimated capital gains experienced by property investors over the past three years.

The suburb’s capital gain of -4.42% for the past year is lower than average compared to its 5.14% growth within a five-year period.

Also in FOOTSCRAY, the median home price is sitting at $920,000, and the average rent at $580, this suggests property owners could potentially earn a 3.28% increase in gross rental yield.

Property investors have seen a -1.66% drop in FOOTSCRAY based on a decrease in median home prices for the past three months.

A survey of average capital gains or median home price increase in suburbs across the country shows that this suburb obtained a 3.36% growth over a ten-year period. It ranks 3479th on our list of suburbs that property investors should look into.

FOOTSCRAY, 3011 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $457,100.

Augmented property values in FOOTSCRAY are trailing behind the VIC average of 2.45% for the past year.

Real estate investors could earn a rental income of $525 based on current median home prices for the suburb.

Home owners selling their properties and realtors in FOOTSCRAY usually have to wait an average of 78.3 days days before their assets are lifted off the market.

FOOTSCRAY ranks 21st on the list of best yielding suburbs for rental properties in VIC, posting a 5.97% return.

FOOTSCRAY, 3011 places 317th in Australia based on median property value growth during the quarter.

Surburb overview

Footscray, postcode 3011, is an inner-city suburb located approximately 5 kilometres west of Melbourne's Central Business District (CBD). According to the 2021 census, it has a population of 17,131 residents. The suburb is renowned for its multicultural community, with many residents born overseas, notably from Vietnam and India. The median age of residents is 34 years, reflecting a blend of young professionals, families, and older individuals.

Public transportation in Footscray is well-established, providing residents convenient access to various parts of Melbourne. The Footscray railway station is a central hub, connecting multiple metropolitan and regional train lines. Additionally, several tram and bus routes traverse the suburb, facilitating easy commuting to the CBD and surrounding areas.

The suburb hosts a range of essential establishments, including educational institutions, healthcare facilities, and shopping centres. Victoria University has a significant presence in Footscray, contributing to the academic landscape. The area also boasts a variety of cafes, restaurants, and boutique shops, reflecting its diverse cultural heritage.

Recreational activities are abundant in Footscray, with numerous parks and green spaces available for public use. The picturesque Maribyrnong River provides opportunities for walking, cycling, and water-based activities. Additionally, the suburb's proximity to sporting facilities and fitness centres caters to active residents seeking to maintain a healthy lifestyle.

Footscray's blend of cultural diversity, urban convenience, and community-oriented living makes it a desirable location for many residents.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$920,000	$457,100
Growth Report
Median Quarterly	-1.66%	-1.7%
Median 12 month	-4.42%	-17.64%
Median 3 years	-8%	-8.58%
Median 5 years	5.14%	-13.75%
10 years average annual	3.36%	0.27%
Weekly media advert. rent	$580	$525
Time on Market	63.8 days	78.3 days
Gross Rental Yield Percent	3.28%	5.97%

Demographics (Median Values)*

Total Population 21462

Weekly Household Income 1441

Household Size 2.30

Average Age 33

Monthly Loan Repayment 1974

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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