Lorna Wang
Dubbo, NSW+27
Melbourne · Western Suburbs
Footscray is a vibrant, multicultural hub just 5km west of Melbourne's CBD, defined by its rich diversity and dynamic energy. Once a working-class industrial suburb, it has evolved into a melting pot of cultures, famous for its authentic Vietnamese, Chinese, and East African cuisine. This cultural tapestry coexists with a rapid gentrification that introduces trendy bars, art spaces, and modern apartments, attracting young professionals, students, and artists.
Market snapshot
Price register · May 2026
Median house
$775,000 - $1.05M
Mid-band $913Kspread 30%
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Median unit
$375,000 - $525,000
Mid-band $450Kspread 33%
Days on market
~22-52 days
Median listing-to-sold window. Shorter = tighter buyer field.
Auction clearance
57% to 67%
Share of auctions sold. Brisbane skews private-treaty.
Rental yield
3.2% to 4.2%
Gross yield on house stock. Premium suburbs compress.
5-year house-price growth
+5% to +25%
cumulative since 2021Who buys here
Young professionals · First-home buyers · Property investors
5-year trend
Modelled trajectory anchored on aggregated 5-year median figures. Indicative; not month-by-month observed data.
Market analysis
Footscray's property market presents a compelling, dual-faceted narrative for buyers and investors. Positioned just 5km from the CBD, it offers a significantly more accessible entry point compared to its inner-city peers in the north and east. The median house price sits around $902,000, a figure that has seen a slight correction over the past year with a decline of approximately 4.5%. This softening follows a period of strong growth and reflects broader market trends and interest rate sensitivities. However, the five-year growth remains positive, indicating solid long-term fundamentals.
The apartment market tells a different story. With a median price of $450,000, units have also experienced a notable annual price drop of around 10.0%. While this may concern some, for investors it highlights an opportunity. The rental market is incredibly robust, driven by proximity to Victoria University, the new Footscray Hospital development, and excellent transport links. Gross rental yields for units are exceptionally high for inner Melbourne, frequently reaching over 6.0%. This makes units in Footscray a strong proposition for cash-flow focused investors who can look past short-term value fluctuations.
Demand dynamics are underpinned by the suburb's ongoing gentrification and significant infrastructure investment. The transformation of former industrial sites into residential and mixed-use precincts is set to accommodate a projected population boom. While this new supply of apartments could temper short-term price growth, it also points to the area's strategic importance and future potential. Houses, particularly period weatherboards in quieter residential pockets, remain tightly held and benefit from strong owner-occupier demand from young families and professionals priced out of more expensive neighbouring suburbs like Seddon and Yarraville. Properties are selling relatively quickly, with average days on market sitting around 37 days, suggesting that well-priced assets are readily absorbed.
With exceptional rental yields and a median house price under $1M just 5km from the CBD, Footscray offers a rare blend of affordability, cash flow, and long-term growth potential.
Why a buyers agent
Navigating the Footscray market requires a nuanced understanding that generic data overlooks. The suburb is not monolithic; it's a patchwork of micro-markets. A quiet, family-friendly street of renovated Victorian homes can exist just a few hundred metres from a high-density zone of new-build apartments with a completely different value trajectory and buyer pool. An expert buyer's agent can distinguish between a high-yield investment near the university and a long-term family home in a prized school catchment. They possess local knowledge on development pipelines, identifying which industrial sites are slated for transformation and how that will impact the character, traffic, and value of adjacent streets. Furthermore, they can spot the difference between a cosmetic renovation and a property with solid bones, a critical skill in a market rich with older, weatherboard housing stock. Without this on-the-ground expertise, a buyer could easily overpay or purchase in a pocket that doesn't align with their long-term goals.
As one of the last inner-city suburbs within 5km of the CBD with a median house price under $1 million, Footscray offers a rare opportunity to buy into a central location at a comparatively accessible price point.
The apartment market delivers some of the strongest rental yields in inner Melbourne, often exceeding 5.5-6.0%. This is driven by constant demand from students, hospital workers, and young professionals, making it a top choice for investors seeking positive cash flow.
Footscray's world-class multicultural dining, bustling market, and thriving arts scene provide a dynamic and energetic lifestyle that is unique in Melbourne. There is always something new to experience.
With a major train station hub, extensive bus network, and future links to the Metro Tunnel and Airport Rail, getting around is exceptionally easy, reducing reliance on a car and enhancing lifestyle convenience.
Massive investments, including the new $1.5 billion Footscray Hospital and ongoing urban renewal projects, are set to drive population growth, create jobs, and increase property demand for years to come.
Compare
| Metric | This suburbFootscray | NearbySeddon | NearbyWest Melbourne | NearbyYarraville |
|---|---|---|---|---|
| Median house | $775,000 - $1.05M | $925,000 - $1.25M | $1.20M - $1.60M | $1.00M - $1.40M |
| Median unit | $375,000 - $525,000 | $500,000 - $675,000 | $450,000 - $600,000 | $525,000 - $700,000 |
| Auction clearance | 57% to 67% | 45% to 55% | 78% to 88% | 72% to 82% |
| Days on market | ~22-52 days | ~16-38 days | ~29-67 days | ~17-39 days |
| Year-on-year growth | -9% to +1% | -5% to +5% | +3% to +13% | -4% to +6% |
| 5-year growth | +5% to +25% | -5% to +15% | +29% to +49% | -5% to +15% |
| Rental yield | 3.2% to 4.2% | 2.8% to 3.8% | 2.9% to 3.9% | 2.6% to 3.6% |
| Postcode | 3011 | 3011 | 3003 | 3013 |
Snapshot date varies by suburb; see individual suburb pages for figures.
The place
Footscray is a suburb of vibrant contrasts, located just 5km west of Melbourne's CBD. Its character is defined by a rich multicultural tapestry, most evident in its bustling culinary scene. The iconic Footscray Market and surrounding streets are a destination for authentic Vietnamese, Ethiopian, and Chinese food. This cultural energy is increasingly blended with a new wave of trendy bars, independent breweries, and cafes that are a hallmark of its ongoing gentrification.
Education is a major drawcard, with Victoria University's main campus located in the suburb, bringing a youthful, academic vibe. Families are well-served by schools including Footscray Primary School, St Monica's Primary School, and the Gilmore College for Girls.
Transport connectivity is one of Footscray's greatest assets. Footscray Station is a major interchange on the Sunbury, Werribee, and Williamstown train lines, and also serves V/Line regional services, ensuring a fast commute to the city and beyond. The station is also a future hub for both the Metro Tunnel and Melbourne Airport Rail. Multiple bus routes further enhance connectivity to surrounding suburbs.
For recreation, the suburb is blessed with significant green space. The heritage-listed Footscray Park is one of Melbourne's finest Edwardian parks, a 15-hectare expanse on the banks of the Maribyrnong River offering stunning city skyline views, picnic areas, and walking trails. The Maribyrnong River Trail provides a popular route for cyclists and runners. The new $1.5 billion New Footscray Hospital is a landmark infrastructure project that will further cement the suburb's status as a key service hub for the western suburbs.
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The 5-year trajectory is a modelled curve anchored on the documented cumulative growth rate. Editorial review: 13 May 2026. Updated quarterly.
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