Suburb Profile Report for Thornbury VIC (3071)

Thornbury House: Median price $1,060,000, Annual capital growth 9.51%, Number of sales 155, Weekly median advertised rent $550

Thornbury Unit: Median price $450,000, Annual capital growth 7.66%, Number of sales 141, Weekly median advertised rent $340

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

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%

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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
HOUSE UNIT
$1,060,000 $450,000
0.95% 2.27%
15.22% -8.16%
9.51% 7.66%
$550 $340
155 141
2.70% 3.93%
51.69 64.12

Source: CoreLogic

DSR Score for property investment : Good (U), Above average (H)
Find a mortgage broker in Thornbury VIC
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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