Over the last year, property investments in Thornbury, 3071 have given investors a capital gain of -8.44%. This compares very badly with the 3.76% for VIC as a whole.
When looking at the potential capital gains offered to property investors over the last 3 years, Thornbury comes in at number 376th in VIC.
The most recent median price for Thornbury is $1133500, with sellers offering an average of -3.94% off the asking price.
In the last year 164 properties changed hands in Thornbury, which puts it as the 148th most active market in VIC when comparing the number of sales per suburb.
Thornbury, 3071’s gross rental yield is 2.73%
Investment property in Thornbury has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 2.49%
Comparing Thornbury,3071 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property investors looking for a bargain in Thornbury should be aiming for at least -5.15% off the asking price, which is the average vendor discount being achieved at the moment.
At number 221 in a list of fastest selling suburbs, Thornbury is in the TOP 20% of suburbs in Australia with an average of days on market 45.95 for properties listed there.
A $375 per week rent on the median house gives suburb investors a gross yield of circa 3.64%, without taking into account capital value appreciation, which has been averaging out at 6.74%.
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.