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Footscray, VIC 3011

Home » VIC Real Estate Data » Maribyrnong City, VIC » Footscray, VIC 3011

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Footscray, VIC 3011 located in Melbourne to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

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Rent 

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Yield 

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Buy 

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Rent 

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Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Footscray, VIC 3011”

  1. The total adult population (15 years or older) of Footscray 3011 VIC is 15,318, with a median age of 34. Of those, 28.73% are married, 11.18% are divorced or separated, 56.48% are single and 3.54% are widowed.

    The average household size is 2.1 people per dwelling, and the median household monthly income is estimated to be $9,184. The median monthly mortgage repayment for households in this suburb is $1,940 which is 21.12% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburb of Footscray 3011, located in Victoria is home to an estimated 13,273 households. By the end of Q3 in 2023, the typical house price in Footscray is predicted to be $879,535. Further, the median weekly rent stands at $529, equating to an indicative yield of 3.13%. The socio-economic condition of the region, gauged by its IRSAD score, is 1030 out of a total 1217, indicating a well-off population with good access to economic resources.

    On the investment side, Footscray presents a mixed bag. The renter to owner ratio is somewhat high at 56%, suggesting a preponderance of renters in the area which could influence long-term property yields. The ratio of units to houses is also relatively high at 57%, which suggests a substantial rental market that could foster competition between landlords.

    Strikingly, the affordability index is high at 38 years, indicating that it might take this long to fully own a property. This could deter potential homebuyers and lead to a significant proportion of renters as it’s a daunting proposition for many.

    In contrast, the suburb presents some encouraging numbers in certain aspects of supply: the stock on market percentage stands at a low 0.15%, indicative of lower supply, which could propel prices upwards. The inventory level for houses is also low at 0.71 months, indicating rapid absorption of new listings, which can be an encouraging sign for those looking to sell.

    Moreover, the building approvals ratio at a relatively low 0.03% suggests a tight rein on the overbuilding of houses. This could potentially prevent an oversupply and maintain stable prices in the housing market.

    However, the suburb sees houses staying on the market for an average of 83 days, a figure that leans towards the higher end, suggesting some degree of sluggishness in market demand. Nonetheless, the vacancy rate for combined houses and units is satisfactory at 1.33%, a value which indicates fairly high demand.

    Lastly, the buy search index stands at 3, indicating an average level of buyer interest compared to the state/city average.

    When considering an investment in Footscray’s property market, these rather varied trends highlight the importance of not just viewing data in isolation, but understanding the overall market dynamics to make well-informed decisions.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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