VIC has seen average median house prices change by 7.68% which means that Thornbury, 3071 has done well for property investors by showing a capital gain of 17.68% over the last year
A 49.42% growth in median value for property investors in Thornbury,3071 puts this suburb at number 113th in terms of best performing suburbs in VIC
Thornbury3071 is located in VIC which offers an average discount of -6.04% to property investors. Thornbury itself is showing figures that indicate -2.37% is the average achievable by property buyers investing in the suburb.
Giving property investors a a poor capital gain of -10.11% for the last year, Thornbury, 3071 is the 1588th 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 286th 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 -3.76% is being offered, which puts this VIC suburb at 1166th most discounted overall in Australia.
Renters in Suburb are facing rents around $4020 per annum or $335 every week.
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.