Property value increases in Thornbury have tracked higher than the VIC average of 8.06% over the last 12 months.
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.
Thornbury3071 is located in VIC which offers an average discount of -6.03% to property investors. Thornbury itself is showing figures that indicate -2.83% is the average achievable by property buyers investing in the suburb.
Often selling an investment property can take time, and in Thornbury the average time real estate has been on the market is 52.35 days.
The VIC suburb of Thornbury, 3071 is in the Darebin local government area.
VIC has seen average median house prices change by 3.11% which means that Thornbury, 3071 has done well for property investors by showing a capital gain of -9.74% over the last year
Taking the average capital gain, or increase in median house value, Thornbury,3071 has racked up an average of -9.74% over the period. This ranks it number 1224th in the whole country for real estate investors looking at median house price increases.
LACK OF BUYER INTEREST may well be the reason that Thornbury is offering property investors an average of -5.12. This rate of discount on properties puts Suburb at number 160th in terms of most discounted suburbs in VIC
In the last year 134 properties changed hands in Thornbury, which puts it as the 56th most active market in VIC when comparing the number of sales per suburb.
Advertised rents are around the $340 mark per week – giving a return of 4.00% based on the median price in 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
Information supplied by:
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.