west footscray

3012, Victoria

Real Estate & Property Information

Median
Price Rank
237

west footscray Suburb Profile & Review

West Footscray is a vibrant multiculturalsuburb in Melbourne's west. Residents enjoy their proximity to Footscray, which is particularly lauded for its diverse restaurants and markets. The Footscray Market is a large indoor fresh produce and seafood market, while Little Saigon is popular for tropical fruits and Asian food.

There arethree schools that cater to families in the suburb, Footscray West Primary School, St John's Catholic School and Corpus Christi Catholic School.Victoria University also has two campuses in Footscray,and an industry specific training centre called 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.Trains take approximately twenty minutes to reach Flinders Street from West Footscray Station on the Sydenham line. Six bus routes run alsothrough the suburb on their way to outlying areas such as Caroline Springs, Laverton and Gardenvale.

west footscray Demographic Data

$ 515,800 Median House Price

18 Minutes Average Commute

35 Median Age

10,222 Population

47.94 % Female

52.06 % Male

2597 NO OF FAMILIES

1.7 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 west footscray, Victoria.

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west 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.

west footscray Median House Prices

  • 2008 $ 395,000
  • 2009 $ 430,000
  • 2010 $ 470,000
  • 2011 $ 562,500
  • 2012 $ 515,800

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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west 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 west 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 west footscray property price predictions.

west footscray Market Property Types

  • 67 % Seperate House
  • 6 % Semi Detached
  • 28 % 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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west 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.

west footscray Income & Mortgage Stats

  • $ 1,129 Median Weekly Household Income
  • $ 1,800 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 west 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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west 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.

west footscray Sold Property Prices

west 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.

west footscray Related Local Blog Posts

Immigrants Are Pushing House Prices Higher

Much of Australia’s history and success has been built on the back immigration but are the current intake levels too high and how are they impacting prices?

Hangover Stock Brings About Buying Opportunities

This week Melbourne’s auction market has been tested with over 1200 properties reportedly going under the hammer over the weekend. Although both Domain and the REIV show clearance rates at nearly 70%, this on the surface seems good but in actual fact is 10% down for the same time last year. Speaking to a number of agents around town confirms….

Where is The Property Market Heading?

There has been a lot of “white noise” surrounding the Sydney and Melbourne property market over the last few months and it has taken me a while to determine which way things were actually going to go. Is the Australian property market heading down the gurgler or is this just a glitch?

Property Market Trends in Melbourne Which Could Affect Prices

In this final edition we look at what how the Melbourne property market has fared and what whether we are likely to see any changes in property prices, demand for property and economic drivers.

New Research Shows Consumers Who Don’t Own A Home Could Be Worse Off in Retirement

New Research released last week by Roy Morgan shows that people who don’t own a home have become worse off in terms of their net wealth and are jeopardising their retirement.

Is Australian Housing Heading for a Hard Landing or a Financial Cliff?

From my experience and talking with real estate agents the Melbourne market has softened no doubt, but are we heading towards a financial cliff?

west footscray Restaurants

  • Thai Angels549 Barkly St west footscray VIC 301203 9689 9669
  • Aangan559 Barkly St west footscray VIC 301203 9689 4175
  • Hyderabad Inn551 Barkly St west footscray VIC 301203 9689 0998

west footscray Cafes

  • Michels Patisserie Central West67 Ashley Streetwest footscray VIC 301203 9396 1318
  • Besito Bar & Cafe590A Barkly Streetwest footscray VIC 30120433 634 339
  • Gusto at Barkly587 Barkly Streetwest footscray VIC 301203 9396 1755

west footscray Schools

  • (Kingsville) Corpus Christi Primary School380 Princes Highwaywest footscray VIC 3012(03) 9314 7303Catholic Primary School
  • Kingsville Primary School58 Bishop Streetwest footscray VIC 3012(03) 9314 5869Catholic Primary School
  • Footscray West Primary School17 Argyle Streetwest footscray VIC 3012(03) 9687 1535State Primary School

west footscray Sporting Centres and Clubs

  • Hansen Reservewest footscray VIC 3012Tennis Club & Courts
  • Johnson Reserve, Roberta Tennis Clubwest footscray VIC 3012Tennis Club & Courts

Find out How Much your House is Worth in west footscray

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