June Property of the Month – Footscray, Melbourne
Footscray’s reputation has always represented one of a lower socioeconomic status. In the last 5 years the suburb has changed rapidly, its culture, authenticity and diversity being more appreciated and valued. It was recently ranked the ‘coolest suburb in Melbourne and the 13th coolest suburb in the world’ by Time Out magazine, the survey praised its food reputation, arts scene and multicultural vibe.
In addition to its trendiness and gentrification, Footscray was also recently ranked the 6th most liveable suburb in Melbourne. It remains the only top 10 suburb with a median house price under $1 million this highlights the relative value and the suburbs potential. Footscray offers, employment and education opportunities through the Footscray Hospital and the Footscray Victoria University campus. It’s location just four kilometres from the CBD provides a of convenience and connectivity.
The suburbs vacancy rate is just 1.7% and with continual investment in infrastructure providing thousands of jobs, demand for property is likely to remain high.
About the project?
Footscray is fast becoming a desirable suburb for young families who have been priced out of more established suburbs such as Fitzroy, Richmond and Collingwood, but still require suitable accommodation to house their young family close to the CBD. Whilst the area has significant apartment supply, the Footscray townhouse market is extremely tight with approximately 55 townhouses under construction in the suburb.
- The project is located with the recently renovated West Footscray train station at your doorstep
- To date, the vast majority of buyers have been owner occupiers, this means demand from the local market is strong
- The townhouses will offer exceptional city view’s from their third level balcony
- Designed for the owner occupier market, the quality of finish is much higher than most new developments in Footscray
- Completion for this property is anticipated for mid-late 2021
Townhouse 10 – Details
Retail Price: $839,000
Binnari Price: $829,000
Details: 3 bed 2 bath 1 car
Size: 165 sqm internal space
Aspect: Eastern views
For more information on this townhouse in Footscray or any other opportunities, please reach out to the team by clicking here.