If you compare the increase in value of investment property in Thornbury, 3071 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 12.85%.
When looking at the potential capital gains offered to property investors over the last 3 years, Thornbury comes in at number 127th in VIC.
The most recent median price for Thornbury is $990500, with sellers offering an average of -1.94% off the asking price.
At number 740 in a list of fastest selling suburbs, Thornbury is in the TOP 20% of suburbs in Australia with an average of days on market 54.54 for properties listed there.
Thornbury, 3071 ranked 349th 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
Comparing Thornbury,3071 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Thornbury, 3071. Typically our figures indicate that -4.96% is being offered, which puts this VIC suburb at 748th most discounted overall in Australia.
Often selling an investment property can take time, and in Thornbury the average time real estate has been on the market is 53 days.
Renters in Suburb are facing rents around $3960 per annum or $330 every week.
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.