New developments to secure in Melbourne's Footscray
Melbourne’s inner west has been earmarked as a top buying target by property experts for the last few years.
Footscray, one of Melbourne’s inner-western suburbs with countless ongoing development projects, is a similar distance from the CBD as South Yarra but without the soaring property prices.
Realestate.com.au chief economist Nerida Conisbee said that the inner-west region is still quite cheap and is "starting to improve”.
According to CoreLogic, West Footscray was amongst Melbourne's best performing suburbs post-GFC, with values rising over 30 per cent between 2008 and 2011.
Here are two apartments in Footscray:
1. Live City
The residential and mixed-use development, Live City, will only push Footscray’s value upward.
Delivered by R&F Property, the $750 million, eight-building project is situated at 124-128 Ballarat Road and is set to offer as many as 1,450 apartments over the next six to eight years. Stage one of the development topped out in August, comprising 208 residences spread across 14 floors.
Designed by Elenberg Fraser, apartments are available in one, two and three-bedroom configurations, with features including a private balcony, views of the Melbourne CBD and expansive glass doors. Other offerings include reconstituted stone benchstops, concealed storage, timber flooring and premium appliances.
One bedroom apartments within the project begin at $350,000, with two-bedrooms priced from $460,000.
You can watch Urban’s tour of Live City’s display suite below:
2. Liberty One
Another property to watch in Footscray is Bensons Property Group’s Liberty One development on 1 Warde Street. The development offers 350 one and two-bedroom residences.
Designed by CHT Architects, Liberty One’s features include premium oak floors, stone benchtops, high-end kitchen appliances and private balconies.
Located within the Joseph Road Precinct, the project offers residents close access to alfresco dining and retail spaces, as well as amenities such as an outdoor cinema, gym and residents’ lounge.
Newly built or off the plan properties up to $1 million in purchase price receive 50 per cent discount on their payable stamp duty thanks to Victorian Government initiatives. The November 24 budget revealed substantial discounts for buyers purchasing properties prior to June 30.
One-bedroom apartments in the project begin at $396,000, with two-bedroom properties from $630,000.