With a capital gain of 17.23% for the last 12 months, Thornbury, 3071 has performed for property investments than its average annual 9.58% 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 17.23% over the period. This ranks it number 691th in the whole country for real estate investors looking at median house price increases.
Property investors looking for a bargain in Thornbury should be aiming for at least -4.11% off the asking price, which is the average vendor discount being achieved at the moment.
Thornbury, 3071 ranked 76th 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
When looking at the potential capital gains offered to property investors over the last 3 years, Thornbury comes in at number 198th in VIC.
Thornbury3071 is located in VIC which offers an average discount of -4.68% to property investors. Thornbury itself is showing figures that indicate -4.23% 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 60.91 days.
Using the current median advertised rental of $340 and the average annual increase in value of a median property of 7.24%, investors should hope to achieve an overall return of 3.43%
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.