Thornbury is in the TOP 20% in VIC when comparing median price capital growth over the last year. Thornbury gave property investors a very good capital gain figure when compared to the rest of the state, with 17.68%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Thornbury has increased when compared to the 5 year average annual rate.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.71% offered to property buyers. Sellers in Thornbury itself are offering an average vendor discount of -3.41% to real estate investors.
Thornbury, 3071 ranked 224th 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
A 30.29% growth in median value for property investors in Thornbury,3071 puts this suburb at number 274th in terms of best performing suburbs in VIC
Sellers are offering property buyers an average discount of -4.37% to buyers in Thornbury at the moment, which is less than average for the rest of VIC.
Thornbury, 3071’s gross rental yield is 3.59%
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.