Thornbury has had a A very good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 15.22% to date .
Over the longer term, Thornbury has seen property prices show investors a 43.24% return over the last 3 years. This is worse than over the last 12 months
Vendor discounting in Thornbury is giving property investors an average Vendor Discount of around -3.42%. This puts suburb at number 548th in VIC when ranking the most discounted suburbs.
Situated 7.09km from the CBD, Thornbury is one of Darebin localities in the postcode 3071.
Thornbury is in the bottom 20% in VIC when comparing median price capital growth over the last year. Thornbury gave property investors a dismal capital gain figure when compared to the rest of the state, with -8.16%.
A 13.42% growth in median value for property investors in Thornbury,3071 puts this suburb at number 95th in terms of best performing suburbs in VIC
Thornbury3071 is located in VIC which offers an average discount of -5.08% to property investors. Thornbury itself is showing figures that indicate -5.07% is the average achievable by property buyers investing in the suburb.
With the median price for a house in Thornbury being $450000 and the advertised rent reaching $340 the gross rental yield for property investors calculates out to be 3.93%
Thornbury offers a good selection of highly sought after period homes, says WBP’s Sean Thomson, but it pays to be selective as to the location of your purchase. He highlights the area between St Georges Road, Bell Road and Victoria Road as the one to watch.Full summary
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Thornbury offers a good selection of highly sought after period homes, says WBP’s Sean Thomson, but it pays to be selective as to the location of your purchase. He highlights the area between St Georges Road, Bell Road and Victoria Road as the one to watch.
“There are some beautiful consistent streets there, with period homes,” he explains. “And being near St Georges Road you’ve got tram, train and road access back into the city.”
He adds, however, that Thornbury has its fair share of commercial and industrial areas that are best avoided. Railway Place, for example, dissects the Metropolitan Tram Depot and the Northern Mail Centre.
If houses in Thronbury are above your budget, Thomson suggests that this is one area of Melbourne that still offers quality apartments at an affordable price.
“Thornbury has a beautiful mixture of low-density apartment blocks from the 1950s, 60s and 70s,” he says. “They go up to around 12 in a block and there’s good affordability at this stage for a good two-bedroom apartment. But you’ve got to be highly selective.”
Looking at the median price point for units in the surrounding suburbs, it looks as if he has a point on the affordability front, with Thornbury’s median unit price coming in lower than that of neighbouring Preston, Northcote, and Ivanhoe according to RP Data stats.