Footscray attracting young adults seeking apartments

Footscray, in particular, is an attractive option for a place to live, with agent F.R. Chee saying the Footscray area is host to increased infrastructure investment, affordable unit prices approximately $130,000 lower than in nearby suburb South Yarra, and access to transport and amenities.

“More and more young people are turning to Melbourne’s inner ring markets as a way to maintain their lifestyles and a level of convenience, while finding an affordable entry to the market,” Mr Chee said.

“Compared to a suburb like South Yarra, which is similarly located 5 kilometres from the city centre, [it’s] also a 10-minute train ride from the CBD and has an equivalent proportion of young residents; Footscray is offering incredible value.”

These inner-ring suburbs are also recording high levels of apartment sales, according to a report by Urbis.

“Footscray’s apartment market is providing a viable option for young professionals and families who want to enter the market and remain close to the city,” Mr Chee said.

“Young people are increasingly willing to trade in a suburban backyard for apartment living and convenience. And with first home concessions now in place, we’re sure Footscray will continue to attract a younger market.”