Footscray - apartments

None of the links work?

Back to Footscray, I am a huge fan of Footscray. Can be measured as less than 5km to the city with excellent public transport (trains and buses) and good rental yields. In the 1 bedroom space you are able to secure a one bedroom for around $6500 per sqm and lesser on 2 bdrm. However on new developments you will find that 1bdr apartments will not include a car space.

I still see a lot of potential in Footscray more due to the population demographic in that Footscray has a smudge to it for many, that is drug issues and significant viet community (recently sudanese) which turned off many. However, the recent development has made Footscray a cosmipolitan area with young professionals renting in droves and of course this comes down to choosing an excellent property manager.

You will find Footscray is fairly cheap per square metre, immature in a sense but it is really catching up (check out the changes in skyline) and given the proximity to the city has real potential to grow.

My tip - spend a little more and buy a townhouse in the area ....

Cheers Ivan
 
I'm a little confused and hopefully someone can point me in the right direction or confirm the obvious. From all the research I've done the prices for Footscray have & are increasing, yet properties I've looked at have sold for more in the past than what they're asking now :confused:

Example;
302/55 Hopkins Street Footscray Vic 3011
Asking $370+
Sold for $388 back in Aug 2009
http://www.realestate.com.au/property-apartment-vic-footscray-107590711

Either the data I have is wrong or I'm looking at the wrong properties
 
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