With a capital gain of 19.59% for the last 12 months, Thornbury, 3071 has performed for property investments than its average annual 9.82% property growth over the last 5 years.
Taking the average capital gain, or increase in median house value, Thornbury,3071 has racked up an average of 19.59% over the period. This ranks it number 487th in the whole country for real estate investors looking at median house price increases.
Thornbury, 3071 is offering VIC ‘s 438th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this VIC.
On average over the past year, suburb has had 13.50 sales per month, which equates to 162 per year.
Giving property investors a a stable capital gain of 6.28% for the last year, Thornbury, 3071 is the 666th highest performer in Australia in this respect.
When looking at the potential capital gains offered to property investors over the last 3 years, Thornbury comes in at number 163th in VIC.
At number 200th of VIC’s most discounted properties, Thornbury is in the TOP 40% of the state/territory when listing in order of most discounted to least.
Property investors should expect to get $340 weekly from the median priced house in this suburb.
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.