Fitzroy 3065 - Victoria

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Fitzroy is an inner city suburb of Melbourne, in the Local Government Area of the City of Yarra. In June 1994, the City of Yarra was created by combining the cities of Fitzroy, Collingwood and Richmond.

Fitzroy was Melbourne's first suburb, created when the area between Melbourne and Alexandra Parade (originally named Newtown) was subdivided into vacant lots and offered for sale. Newtown was later renamed Collingwood, and the area now called Fitzroy (west of Smith Street) was made a ward of the Melbourne City Council. On 10 September 1858, Fitzroy became a municipality in its own right, separate from the City of Melbourne.

Like other inner-city suburbs of Melbourne, Fitzroy underwent a process of gentrification during the 1980s and 1990s. The area's manufacturing and warehouse sites were converted into expensive apartments, and the corresponding rising rent prices in Fitzroy saw many of the area's residents move to Northcote and Brunswick.

Fitzroy is now home to Melbourne's bohemian culture. An edgy mix of alternative, artistic and trendy elements, it has a fascinating collection of young designer and retro clothes shops, bookshops, galleries, cafes and restaurants, and a vibrant nightlife.

Latest Market Price in Fitzroy

The median house price in Fitzroy has dropped -3% from $698,000 in the 6 months to June 2008 to $680,000 in the 6 months to December 2008. The long term trend for house prices in Fitzroy over the last 10 years is +9.9% per annum.

The median unit price in Fitzroy for the same period has dropped -3% from $518,000 to $500,000. The long term trend for unit prices in Fitzroy over the last 10 years is +7% per annum.

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