Over the last year, property investments in Thornbury, 3071 have given investors a capital gain of 17.89%. This compares very favourably with the 8.96% for VIC as a whole.
Across a shorter period, Thornbury, 3071 has seen a median price increase of 4.67% over the last quarter.
Our latest figures would indicate that property sellers in Thornbury are currently offering property investors an average price cut of -3.37% below the asking price at the moment.
Giving property investors a an unimpressive capital gain of 0.21% for the last year, Thornbury, 3071 is the 1082th highest performer in Australia in this respect.
If we look at median property appreciation over just the last three months, Thornbury has given property investors a paper return of 1.25%. This puts Suburb as 147 on a list of fastest fasting appreciating suburbs in VIC
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 -4.70% is being offered, which puts this VIC suburb at 883th most discounted overall in Australia.
Using the current median advertised rental of $340 and the average annual increase in value of a median property of 8.10%, investors should hope to achieve an overall return of 3.64%
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.