Suburb Profile Report for Thornbury VIC (3071)

Thornbury House: Median price $1,177,000, Annual capital growth 9.58%, Number of sales 152, Weekly median advertised rent $550

Thornbury Unit: Median price $515,000, Annual capital growth 7.24%, Number of sales 164, Weekly median advertised rent $340

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

With a capital gain of 17.23% for the last 12 months, Thornbury, 3071 has performed for property investments than its average annual 9.58% property growth over the last 5 years.

Taking the average capital gain, or increase in median house value, Thornbury,3071 has racked up an average of 17.23% over the period. This ranks it number 691th in the whole country for real estate investors looking at median house price increases.

Property investors looking for a bargain in Thornbury should be aiming for at least -4.11% off the asking price, which is the average vendor discount being achieved at the moment.

Thornbury, 3071 ranked 76th in VIC when comparing growth in median property values or capital gain over the last 12 months. Thornbury is one of 2098 in our list for VIC

When looking at the potential capital gains offered to property investors over the last 3 years, Thornbury comes in at number 198th in VIC.

Thornbury3071 is located in VIC which offers an average discount of -4.68% to property investors. Thornbury itself is showing figures that indicate -4.23% is the average achievable by property buyers investing in the suburb.

Often selling an investment property can take time, and in Thornbury the average time real estate has been on the market is 60.91 days.

Using the current median advertised rental of $340 and the average annual increase in value of a median property of 7.24%, investors should hope to achieve an overall return of 3.43%

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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.Full summary

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.

Close
Metrics i HOUSE UNIT
$1,177,000 $515,000
2.35% 3.26%
17.23% 13.37%
9.58% 7.24%
$550 $340
152 164
2.43% 3.43%
60.64 60.91

Source: CoreLogic

DSR Score for property investment : Very good (H), Very good (U)
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Demographics
Total population 17433
Median household income ($/weekly) 1276
Median age of persons 36
Median housing loan repayment ($/monthly) 2000
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 1547 8.9
    25-34 years 3859 22.1
    35-44 years 3236 18.6
    45-54 years 2142 12.3
    55-64 years 1373 7.9
    Others 5276 30.3
    Age Group
    Census Count Percent(%)
    Not Married 6346 47.5
    Registered Married 5253 39.3
    Defacto Relationship 1763 13.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 10876 66.8
    Hong Kong 849 5.2
    Indonesia 645 4.0
    Japan 775 4.8
    Other 733 4.5
    Others 2415 14.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 463 3.0
    Christianity 8358 53.6
    Hinduism 547 3.5
    Islam 473 3.0
    No Religion 5485 35.2
    Others 256 1.6
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 622 9.6
    $1,000-$1,249 587 9.1
    $1,500-$1,999 824 12.8
    $2,000-$2,499 611 9.5
    $2,500-$2,999 581 9.0
    Others 3223 50.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 5671 41.1
    Not in the labour force 4241 30.8
    Employed, worked part-time 2858 20.7
    Employed, away from work 533 3.9
    Unemployed, looking for work 479 3.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 1094 12.1
    Professionals 3034 33.5
    Technicians & trades workers 979 10.8
    Community & personal service workers 846 9.3
    Clerical & administrative workers 1344 14.8
    Others 1769 19.5
    Occupation
    Census Count Percent(%)
    Pre-school 290 7.7
    Infants/Primary 1032 27.4
    Secondary 589 15.6
    Technical or Further Educational Institution 454 12.0
    University or other Tertiary Institutions 1237 32.8
    Others 166 4.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 10926 67.3
    Flat, unit or apartment 3874 23.9
    Semi-detached, row or terrace house, townhouse 1285 7.9
    House or flat attached to a shop, office 145 0.9
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 2904 41.9
    Fully owned 2013 29.0
    Being purchased 1990 28.7
    Other tenure type 31 0.4
    Tenure Type
Census 2011, ABS
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