Question 1

Is Fitzroy a nice place to live?

Accepted Answer

Fitzroy is an inner-city suburb just north-east of the CBD, known for its bohemian, arts-focused character and the lively retail strip along Brunswick Street. The streets mix intact Victorian terraces and worker cottages with converted warehouses and newer apartments, and laneways are known for street art, galleries, independent boutiques, cafes and bars. It suits people who value a walkable urban lifestyle — creatives, students, young professionals and long-term locals. The population is 10,431 with a median age of 35, median household income $2,194 a week, and most homes are rented (60.7%).

Regular trams and nearby arterial roads make links into the city straightforward, while pocket parks offer green breaks amid the urban fabric. The health precinct is expanding, including the Aikenhead Centre for Medical Discovery and further hospital works, and the Fitzroy Gasworks precinct is planned to include a senior high school, public open space, a six-court indoor sports centre and around 20% affordable housing. Tram stop upgrades, new planning controls on major tram corridors and a planned modernisation of Fitzroy Primary School will also affect everyday life.

Question 2

Is it expensive to live in Fitzroy?

Accepted Answer

On the figures for Fitzroy, housing costs sit well above what a typical local household earned at the last Census. The median house price of $1,450,000 is about 12.7 times a typical local annual household income at the last Census (weekly household income $2,194 gives an annual income of $114,088), while the median unit price of $765,000 is about 6.7 times that annual income. Renting looks stretched as well: a house rent of $1,000 a week would take roughly 45.6% of a typical local household's weekly income at the last Census, and a unit rent of $670 a week would take about 30.6%.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is Fitzroy a good place to invest?

Accepted Answer

Over the past 12 months in Fitzroy the picture is mixed. Median house values fell 8.3%, a notable decline, while house rents rose 5.3%, a solid increase. Median unit values edged up 0.7%, a slight rise, and unit rents rose 4.7%, a modest gain.

If you are focused on capital growth, the figures show houses declined in value while units recorded only a slight increase. If rental income is your priority, both house and unit rents grew over the year, with house rents rising a little faster than unit rents. Whether that balance suits your goals and circumstances is for you to weigh up.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	$1.45M	$765K
Change in value Past 12 months	-8.3%	0.7%
Sold Past 3 months	33	37
Median days on market Past 12 months	43	36
Average rent Past 12 months	$1000	$670
Change in rent Past 12 months	5.3%	4.7%

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