REDBANK PLAINS 
1 MIN READDemand For Homes Stays High In 1 State While The Rest Fall Back
Rising interest rates have eased demand from potential buyers, which has been reflected in the slowing of home price gro...
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West FootscrayWest Footscray - SUBURB PROFILE REPORT
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Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $1,100,000.
The upward trend in home prices in WEST FOOTSCRAY, 3012 averaged 10.06% per annum over a 3-year period.
Average weekly rents on listings have reached the $450 mark, reflecting a 2.13% increase in returns based on the current median price in WEST FOOTSCRAY.
An average of 9.92 real estate transactions take place per month in WEST FOOTSCRAY which translates to 119 per annum.
119 properties were sold in WEST FOOTSCRAY in 2016, making it the 718th most active market in VIC based on total real estate transactions.
WEST FOOTSCRAY, 3012 places 33rd in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,100,000 | $610,000 |
| GROWTH REPORT | ||
| Median Quarterly | 12.12% | 0.83% |
| Median 12 month | 27.17% | 3.39% |
| Median 3 years | 30.18% | 42.27% |
| Median 5 years | 41.03% | 43.53% |
| 10 years average annual | 8.57% | 5.89% |
| Weekly media advert. rent | $450 | $320 |
| Time on Market | 61.9 days | 57.9 days |
| Gross Rental Yield Percent | 2.13% | 2.73% |
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