If you compare the increase in value of investment property in Thornbury, 3071 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 9.89%.
The five-year average increase in median property values for Thornbury,3071 has given property investors a potential capital gain of 73.19% across each of those five years.
Thornbury, 3071 is offering VIC ‘s 156th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 30% of discounts offered by this VIC.
In the last year 175 properties changed hands in Thornbury, which puts it as the 135th most active market in VIC when comparing the number of sales per suburb.
Thornbury, 3071’s gross rental yield is 2.39%
Thornbury has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of 4.19% to date .
When looking at the potential capital gains offered to property investors over the last 3 years, Thornbury comes in at number 283th in VIC.
Property investors looking for a bargain in Thornbury should be aiming for at least -3.78% off the asking price, which is the average vendor discount being achieved at the moment.
Renters in Suburb are facing rents around $4320 per annum or $360 every week.
A large suburb less than 10km from Melbourne, Thornbury is a busy area undergoing significant growthFull summary
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Housing supply hits a high note
Median house price: $1,153,250
Stock on market: 22.2%
12-month growth: 17.7%
A large suburb less than 10km from Melbourne, Thornbury is a busy area undergoing significant growth.
Housing supply has risen in this prestige suburb over the past year leading up to July 2017, likely due to burgeoning interest. The median house price exceeds $1m, but values continue to spike. Moreover, the average discount rate is low, indicating that despite low rental yields, buyers see a lot of potential here.
Thornbury is known for the High Street shopping area in Thornbury Village, which serves as the centre of the suburb. A lively environment is created by the presence of restaurants, cafes, bars and the suburb’s rich alternative music scene. Cyclists can also take the Merri Creek Trail and Darebin Creek Trail for beautiful views of nature.
Various tram routes connect Thornbury to Melbourne and St Kilda.