2/28 Pickett Street, Footscray VIC 3011
2/28 Pickett Street, Footscray VIC 3011
Inner-west walkable pocket | Boutique low-rise apartment | Secure parking and storage likely | Strong renter-owner mix | Central to station, market, cafes
This unit sits in a genuinely convenient part of Footscray, where the street blends older houses with newer boutique apartment buildings. The configuration points to a low-maintenance, secure apartment that suits first-home buyers wanting an inner-west foothold, or downsizers trading garden upkeep for walkability. Being close to Footscray Station, the market, and daily retail means the location does the heavy lifting for lifestyle and future demand. The mix of one and two-bedroom stock nearby suggests this property competes well with similar offerings, especially if it includes parking and storage, which are not always standard in older walk-ups.
The value picture may be shaped by how the unit compares to others in the same building and street, particularly around floor level, aspect, and natural light. A west-facing balcony or top-floor position could add a noticeable premium, while a lower-floor unit with limited outlook might sit at the softer end of the range. The building’s age and strata condition also matter, as older conversions can carry higher maintenance expectations. Rental demand appears steady, which supports investor interest, but owner-occupiers may weigh the urban noise and density against the convenience.
|| Comparable Sales: 6/30 Pickett Street sold $350,000 in 2023; 5/23 Pickett Street sold $300,000 | Property Price Band: $300K–$400K | Value Drivers: floor level, parking and storage, natural light and balcony
Detailed Independent Property Report prepared by PropCred Analyst team for 2/28 Pickett Street, Footscray VIC 3011
Checks found:
Value Risk
Liquidity Risk
Planning Risk
2
Income Risk
1
Execution Risk
1
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Market Insight
Footscray is a densifying inner-urban market, underpinned by strong rail access and CBD proximity. Investor demand comes from a high concentration of students, healthcare workers and young professionals; Edwardian and Victorian homes appeal to families. House prices are around $920,000, down 3–4.5% over the past year. Units sit near $457,000, with sharper declines of 13.5–18%. Houses sell in 35–39 days. Rental demand is firm: houses lease for $590–620 weekly, units $520–525. Gross unit yields near 6%, against 3.45% for houses, making the compact segment the stronger investment proposition. Growth drivers include modern high-rise development, build-to-rent supply like Indi Footscray, and transport-linked demand. Key risks are affordability pressure, evident in negative capital growth, and rate sensitivity that leaves prices exposed to further adjustment.
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PropCred Estimated Value
Comparable Sales: 6/30 Pickett Street sold $350,000 in 2023; 5/23 Pickett Street sold $300,000 | Property Price Band: $300K–$400K | Value Drivers: floor level, parking and storage, natural light and balcony
Bedrooms
4
Bathroom
2
Parking
2
Land
250m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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