Footscray vs Upper Ferntree Gully

The median house price is $950K in Footscray and $945K in Upper Ferntree Gully, so Upper Ferntree Gully is the cheaper entry point, with Footscray houses about 1% dearer.

For units, Footscray sits at a median of $475K against $625K in Upper Ferntree Gully, which makes Footscray the more affordable unit market and Upper Ferntree Gully the pricier one.

Gross rental yield on houses is effectively level, at 3.49% in Footscray and 3.50% in Upper Ferntree Gully, so neither suburb has a cash flow edge on houses.

Over the past year house prices moved -2.2% in Footscray and -1.4% in Upper Ferntree Gully (an estimate), so recent momentum favours Upper Ferntree Gully, while Footscray went backwards.

Rental vacancy is 0.4% in Upper Ferntree Gully and 1.6% in Footscray, so landlords in Upper Ferntree Gully face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Footscray is the bigger suburb, with a population of 17,131 against 3,417, roughly 5 times the size of Upper Ferntree Gully; a larger suburb usually means a deeper pool of buyers and tenants.

In short: Upper Ferntree Gully for a lower purchase price, Upper Ferntree Gully for recent price momentum, Upper Ferntree Gully for the tighter rental market. Which matters more depends on whether the investor is buying for cash flow, capital growth or affordability.