Suburb Profile Report for Thornbury VIC (3071)

Thornbury House: Median price $990,500, Annual capital growth 9.39%, Number of sales 173, Weekly median advertised rent $535

Thornbury Unit: Median price $445,290, Annual capital growth 7.51%, Number of sales 118, Weekly median advertised rent $330

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

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.

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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
$990,500 $445,290
1.59% -3.20%
12.85% -9.31%
9.39% 7.51%
$535 $330
173 118
2.81% 3.85%
54.54 53

Source: CoreLogic

DSR Score for property investment : Good (U), Above average (H)
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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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Recent sales & rentals