Giving property investors a a solid capital gain of 15.01% for the last year, Thornbury, 3071 is the 486th highest performer in Australia in this respect.
Taking the average capital gain, or increase in median house value, Thornbury,3071 has racked up an average of 15.01% over the period. This ranks it number 712th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in Thornbury are currently offering property investors an average price cut of -2.08% below the asking price at the moment.
Advertised rents are around the $550 mark per week – giving a return of 2.82% based on the median price in Suburb
Thornbury has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -13.37% to date .
Thornbury,3071 was ranked 1496 in Australia by increase in median property value over the quarter.
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 -3.53% is being offered, which puts this VIC suburb at 1222th most discounted overall in Australia.
At number 261 in a list of fastest selling suburbs, Thornbury is in the TOP 20% of suburbs in Australia with an average of days on market 50.95 for properties listed there.
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.