footscray

3011, Victoria

Real Estate & Property Information

Median
Price Rank 196

footscray Suburb Profile & Review

Footscray is particularly lauded for its diverse restaurants and markets, which feature cuisine from all over the world. The Footscray Market is a large indoor fresh produce and seafood market, while Little Saigon is popular for tropical fruits and Asian food.

The Footscray Community Arts Centre on Moreland Street is an epicentre for Melbourne contemporary art, and hosts numerous theatre, circus and performance groups as well as award-winning choirs and bands. Footscray is home to five primary schools, two high schools and two Victoria University campuses, in addition to several other industry specific training centres including the Austwide Institute of Training.

For sports enthusiasts, Whitten Oval on Barkly Street is the home ground for the Footscray Football Club, while beautiful Footscray Park overlooks the Flemington Racecourse. Footscray Station acts as a hub for both metropolitan train and V/Line services, and a trip to the city centre takes less than fifteen minutes.

Invest/Buy/Sell Checklist

Research
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Due Diligence
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  • Sale Contract Review
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Post Purchase
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    What is a Depreciation Schedule?
    A depreciation schedule of your investment prepared by a Quantity Surveyor for the purpose of claiming against your taxable income. There are two main elements taken into account when preparing this report.

  • 1. Capital works allowance (Division 43) Takes into account the construction costs of the building itself, such as concrete and brickwork
  • 2. Plant and equipment (Division 40) A deduction available for removable assets identified by the ATO that depreciate at a faster rate than the building eg carpet, dishwasher, blinds, ovens.

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Adding value
  • Planning & Permits
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  • Trades
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footscray Demographic Data

$ 566,000 Median House Price

13 Minutes Average Commute

32 Median Age

13,203 Population

46.97 % Female

53.03 % Male

2821 NO OF FAMILIES

1.6 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in footscray, Victoria.

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footscray Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

footscray Median House Prices

  • 2008 $ 410,000
  • 2009 $ 440,000
  • 2010 $ 505,500
  • 2011 $ 562,500
  • 2012 $ 566,000

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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footscray 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in footscray have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term footscray property price predictions.

footscray Market Property Types

  • 47 % Seperate House
  • 15 % Semi Detached
  • 37 % Flat or Unit
  • 0 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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footscray Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

footscray Income & Mortgage Stats

  • $ 1,059 Median Weekly Household Income
  • $ 1,950 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in footscray

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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footscray Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

footscray Sold Property Prices

footscray Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

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footscray Restaurants

  • Yummie Hong Kong Dim Sum189-193 Barkly Street footscray VIC 301103 9078 8878
  • The TerraceLevel 1, Hoadley Building, Nicholson Campus, Victoria Uni, Bfootscray VIC 301103 9919 8708
  • Taj Palace228 Nicholson St footscray VIC 301103 9687 1020

footscray Cafes

  • Emu Cafe68 Hopkins Streetfootscray VIC 301103 9362 0201
  • Cotton Mills Cafe91 Moreland St footscray VIC 301103 9689 8460
  • Cafe D'Afrique137 Nicholson Street footscray VIC 301103 9689 9411

footscray Schools

  • Victoria UniversityGeelong Rdfootscray VIC 3011
  • Ames Education289 Barkly Streetfootscray VIC 3011(03) 9687 3494Adult Multicultural Education Service
  • St. Johns Primary School34 Essex StreetÊfootscray VIC 3011(03) 9687 3150Catholic Primary School

footscray Childcare

  • Angliss Childrens CentreSeelaf Sqfootscray VIC 3011
  • Brenbeal Childrens Centre8 Rayner Streetfootscray VIC 3011
  • Empire Early Learning Centre8 Empire Streetfootscray VIC 3011

footscray Kindergarten and Preschools

  • Hyde Street Kindergarten10A Hyde Streetfootscray VIC 3011
  • Victoria UniversityGeelong Rdfootscray VIC 3011

footscray Sporting Centres and Clubs

  • Johnson Resfootscray VIC 3011Athletics Club
  • Footscray Canoe Clubfootscray VIC 3011Boating Club
  • Footscray City Rowing Clubfootscray VIC 3011Boating Club

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