Victoria Property Spotlight
Footscray property and home loan guide
Footscray is an inner-west suburb about 5 km from Melbourne's CBD, on the Maribyrnong River. It had 17,131 residents at the 2021 Census. More than half of homes (52.3%) were flats or apartments and 55.9% were rented. The median age was 34. Its station is one of the busiest on Melbourne's metropolitan network. Time Home Loans is based in Brisbane and works with Footscray buyers by phone and video. Apartment size, owners corporations and investment loans come up most here.
Information last updated 3 November 2026
Market snapshot
| Houses | Units | Source | |
|---|---|---|---|
| Share of homes | 31.5% separate houses, 15.3% terraces and townhouses | 52.3% flats and apartments | ABS Census 2021 (Footscray) |
In the 2021 Census, 41.3% of Footscray homes were owned outright or with a mortgage and 55.9% were rented. The median weekly rent across all homes was $355 (ABS). Rents by bedroom aren't shown for this area. Sale prices will be added once licensed figures are available.
Figures are a guide only and change over time. Past movements in values and rents don't predict future results.
Living in Footscray
Footscray was named after Foots Cray in London. A punt crossed the Maribyrnong River from 1839 and the Punt Hotel opened soon after. The post office opened on 12 October 1857 and Footscray became a municipality in 1859. The population grew from almost 6,000 to 19,000 between 1881 and 1891 as industry spread along the river.
Footscray is the seat of the City of Maribyrnong. The Regional Rail Link works of 2012 to 2014 reshaped the area around the station. In 2014 the state planning minister approved a 28-storey tower overlooking the river and apartment buildings now sit beside older houses.
Transport
- Footscray station is served by the Sunbury, Werribee and Williamstown lines and by V/Line trains to Geelong, Ballarat and Bendigo. It's about 5.6 km by rail from Southern Cross.
- Footscray was the fifth-busiest station on Melbourne's metropolitan network in 2023-24, with 4.37 million passengers.
- The Regional Rail Link rebuilt the station between 2012 and 2014.
- In the 2021 Census 6.5% of working residents took the train to work.
- Plan trips on the PTV journey planner.
Schools
Footscray High School has campuses on Barkly Street, Pilgrim Street and Kinnear Street. Victoria University has its Footscray Park campus and its Nicholson campus for TAFE courses in the suburb.
Government school zones change, so check findmyschool.vic.gov.au for any address before you buy.
Shopping and dining
Footscray Market, opposite the station, is a large indoor market for fresh produce and seafood. It has 33 food stalls and 50 general stalls. Plans to rebuild the Little Saigon market were in place as of 2021.
Parks and recreation
- Footscray Park is a 15-hectare Edwardian park on the Victorian Heritage Register, across the river from Flemington Racecourse.
- The Maribyrnong River Trail runs along the eastern edge of the suburb.
- The Western Bulldogs train at Whitten Oval on Barkly Street.
Lifestyle
Footscray suits renters, first home buyers and investors who want to be close to the city and a busy station. Family households made up 52.1% of homes in 2021. Food, markets and footy are a big part of local life.
Footscray
Did you know?
Named after a London village
Footscray was named after Foots Cray in London. A punt crossed the Maribyrnong River here from 1839.
Source: Wikipedia: Footscray, Victoria
A station from 1859
Footscray station opened on 17 January 1859. A new station opened at the present location on 16 September 1900.
A market fire
The Little Saigon market opened in 1992. It was destroyed by fire on 13 December 2016, causing more than $12 million in damage.
Source: Wikipedia: Footscray, Victoria
One of the world's cool suburbs
In 2019 Time Out ranked Footscray 13th in its list of the 50 coolest neighbourhoods in the world.
Source: Wikipedia: Footscray, Victoria
Property types
Footscray is a mix of apartments and older houses.
- Flats and apartments make up 52.3% of homes, from older blocks to newer buildings.
- Houses make up 31.5%, many of them older homes.
- Townhouses and terraces make up 15.3%.
- Size: 44.3% of homes have two bedrooms and 19.5% have one.
Check VicPlan for zoning, heritage and any flood overlay near the river before you buy.
What lenders look at in Footscray
Footscray is an apartment and rental market close to the city. Here's what tends to come up with lenders.
Small apartments
One LMI provider's public guidelines need at least 30 m2 of living area, not counting balconies or car spaces. Some lenders have their own minimums. Check the floor plan before you sign.
New apartment buildings
Some lenders limit how much they'll lend in one building or on new apartments in large developments. Off-the-plan valuations at settlement can come in under the contract price.
Owners corporations
Lenders and valuers look at the building's condition and the owners corporation records. Check fees, special levies and any defects before you buy.
Investment loans
In 2021, 55.9% of homes were rented. Lenders assess rental income at a discount and some apply tighter limits on investment loans.
Riverside land
Some land near the Maribyrnong River carries a flood overlay. Check VicPlan and get an insurance quote before you sign.
Postcode 3011
Footscray shares postcode 3011 with Seddon. Postcode 3011 isn't on one LMI provider's lists of excluded or single-industry postcodes.
Lender and LMI policies differ between lenders and change often. This is a general guide based on public lender and LMI information checked 3 November 2026. We can check current policy for the property you're looking at before you apply.
Buying in Footscray
In Footscray the type of property shapes the loan more than anything else. A small apartment, a new apartment and an older house are each assessed differently. Read the owners corporation records before you sign for any unit.
First home buyers
Footscray's apartments are an entry point for many first home buyers. Check the unit's internal size, as some lenders and LMI providers have minimums.
Get pre-approval first. Victorian duty concessions and the first home owner grant follow state rules. See our first home buyer page for current schemes and our guarantor guide if family may help.
Upgraders
Many Footscray owners move from an apartment to a house or townhouse nearby. If you're buying before you sell, ask about bridging finance early. Older homes often need work, so budget for inspections.
Deposit and costs
On top of your deposit, allow for:
- stamp duty (transfer duty) under Victoria rules, with concessions for some first home buyers (see the State Revenue Office Victoria)
- conveyancing and legal fees
- building and pest inspections
- strata or body corporate searches for units and townhouses
- lenders mortgage insurance (LMI) if you borrow more than 80% of the property's value
Our calculators give you a starting figure. Stamp duty rules differ between states, so check the Victoria rules for your purchase.
Investing in Footscray
In 2021, 55.9% of Footscray homes were rented and the median weekly rent was $355. Owners corporation fees, land tax and vacancy all affect the numbers. See our investing page for how investment loans work.
Lender considerations
Lenders look at your income, your deposit and the property. With units they also look at size, the building and the owners corporation. Time Home Loans works with Footscray buyers from Brisbane by phone and video.
Thinking about buying in Footscray?
Talk it through with a Brisbane broker before you sign a contract. We can check the property you're looking at against lender policy.
Frequently asked questions
Is Footscray mostly apartments?
Just over half. In the 2021 Census 52.3% of homes were flats or apartments, 31.5% were houses and 15.3% were townhouses or terraces.
Can I get a loan for a small apartment in Footscray?
Often, but size matters. One LMI provider's public guidelines need at least 30 m2 of living area, not counting balconies or car spaces. Check the floor plan early.
Which train lines stop at Footscray?
The Sunbury, Werribee and Williamstown lines and V/Line trains to Geelong, Ballarat and Bendigo.
Is Footscray good for investors?
That depends on your situation. In 2021, 55.9% of homes were rented and the median weekly rent was $355. Lenders assess rental income at a discount.
Can a Brisbane mortgage broker help me buy in Footscray?
Yes. Time Home Loans is based in Brisbane and works with clients across Australia by phone and video. We don't have an office in Footscray. Lender policy is national, so the same lenders and products are available. Stamp duty, first home buyer concessions and grants follow Victorian rules. In most cases there's no broker fee to pay. Time Home Loans is paid by commission from the lender.
What costs should I budget for on top of the deposit?
Victorian land transfer duty (often called stamp duty), conveyancing, building and pest inspections and lenders mortgage insurance if you borrow more than 80% of the value. The calculators on our site give you a starting figure.
General information only. This page provides general information and doesn't take into account your objectives, financial situation or needs. Consider whether it's appropriate for you and seek advice before making a decision. Market figures are a guide only and change over time. Past movements in values and rents don't predict future results.
Time Home Loans Pty Ltd ACN 161 695 012, Credit Representative 529395 is authorised under Australian Credit Licence 384324.