CLOSE TO CBD BUT TREAD CAREFULLY WHEN BUYING HERE
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Footscray is only circa 5 km from the CBD and has been broadly identified as a “must gentrify soon” suburb for the last circa 30 years.
The case for gentrification includes:
- Public transport is good. Footscray station services three city and two regional lines.
- The opening up of Footscray to the Maribyrnong river with walking/bike paths.
- Eating out in Footscray offers a wide range of well-priced choices and cafes such as West 48 on Essex Street or Rudimentary on Leeds Street, which would comfortably fit in in a far more gentrified suburb like Fitzroy.
- Footscray Market offers a great range of well-priced fresh food options.
- Convenient freeway access.
There is plenty of other amenities in nearby Yarraville, for example the Sun Theatre and Seddon with its cafes, restaurants and retail.
However in my view, it is not a visually charming suburb and does not have the “village” feel of its more expensive nearby inner west suburbs (for example Yarraville and Seddon).
Drugs and crime continue to be an issue – Footscray railway station and surrounds I find an intimidating atmosphere at night.
A lot of high rise, high-density multi-units have been built, is under construction or in the approval process. Much of them are architecturally unappealing. As well as the related increased traffic issues, it further decreases the charm factor of the suburb.
My favourite stop in Footscray is Melbourne’s best cannoli at T.Cavallaro & Sons in Hopkins Street. In operation since 1956, when Footscray had a large Italian population.
As a Melbourne Buyers Agent, I think there are multiple factors which will collectively further increase the appeal of the inner west, including:
- The new circa 500 bed hospital in Footscray – set to open in 2025.
- West Gate Tunnel Project – an alternate to the West Gate bridge and a reduction of trucks on residential streets.
- Metro Tunnel Project – as Melbourne’s population continues to increase, access to train stations is highly likely to be a continued driver of pricing growth.
- The CBD’s drift westward to Docklands where major corporates are preferring to locate their head offices.
- Development of Footscray High School.
However, I still have reservations about Footscray. While it is “cheap” compared to other inner-city suburbs, I’m not sure it represents compelling “value” especially for family buyers.
Neighbouring West Footscray is I think a more compelling option for family buyers – particularly if it is a house with historic architectural charm within walking distance of train station.
Last update: 29 Mar 2023