Footscray House Prices Jump 4.2% While Units Drop 1.8%

Footscray house prices rose to a median of $912,000 by the end of June while unit medians fell to $485,000, according to CoreLogic figures released on 10 July.

The split comes as buyers weigh higher interest rates against limited stock of detached homes near transport links. Sellers of larger properties have held firm on asking prices, while unit listings have increased along corridors closer to the station.

Street-level shifts

Along Barkly Street, three-bedroom weatherboard houses listed in April sold within three weeks at premiums of $40,000 above reserve. In contrast, two-bedroom apartments in the Leeds Street precinct near Footscray Market have lingered on the market for an average of 47 days, with two sales closing 3 per cent below the March quarter median.

Local agents point to demand from families seeking backyards near the Footscray Community Arts Centre redevelopment, which opened new studio spaces in May. First-home buyers have instead targeted smaller footprints close to the Ballarat Road tram stop, where body corporate fees remain under $3,800 a year.

Numbers behind the gap

Domain Group data for the June quarter showed 68 house settlements in Footscray against 112 unit transactions. The average house took 21 days to sell; the average unit took 39 days. Clearance rates for houses sat at 78 per cent while units cleared at 61 per cent.

Buyers considering entry now should inspect houses first on streets such as Geelong Road before turning to units near the market. Checking recent comparable sales through the local council’s property portal and confirming strata records can narrow the decision between the two segments within a fortnight.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.