7.9% P.A Increase over 10 years
Median apartment price & growth
The ten year sale cycle chart illustrates a general upward trend in the median apartment price for Footscray. Over the past decade, the median price has increased by 7.9% per annum to reach $410,000 for the June 2015 quarter, based on 36 settled transactions. This is up higher than the median price for the full year to June 2015 which was $388,500.
Affordability & price growth
Compared to a selection of suburbs that are a similar distance to the Melbourne CBD, Footscray has the lowest 12 month median sale price and the highest annual price growth over the last ten years. Suburbs that have experienced the gentrification process such as Brunswick and Prahran are now registering a substantially higher median sale price than Footscray. Footscray remains relatively affordable with capital growth opportunities linked to the ongoing regeneration process.