VIC Footscray - still worth buying?

There seems to be very little discussion about Footscray for a while, no doubt because the buy-in price is now very high in the area, but is it an area that's still worth putting the money in if someone were to purchase a house?

I went for a quick drive on the weekend and there's lots of development still happening, but at this price there's a case that everything has been fully priced in already, although it is very close to CBD and there's only so much land there.

 

If I could I would..

Sunshine is getting bought by those who can afford it as we speak.. Footscray will later become a Yarraville... Just needs its stigma to diminish over time

 

I lived in Footscray, well Maribyrnong for a year, on Monash Street house sitting an uncle's house during my university days (early 2000s). It has got to be one of the best locations to live in the entire Melbourne. Access was great - tram to Footscray station, 2 stations to the CBD or so. Driving was not very good however.

It still looks fairly good value to be honest, but like most inner city suburbs or near the city (within 10kms) it is now blighted by a million apartments/townhouses.

Having said that, it doesn't feel very "family" orientated. All it really needs is a kickass school and you can easily add on another $200K hah.

 

I just bought a PPOR recently in the area and the transport is great, plus a short drive to the city. I can see the place changing in the future given these factors make it a good base. Have been checking the interwebs regularly for articles. i noticed the one below however i don't have full access to the HS website!

Category: | Herald Sun