If you compare the increase in value of investment property in Thornbury, 3071 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 1.59%.
A 37.03% growth in median value for property investors in Thornbury,3071 puts this suburb at number 119th in terms of best performing suburbs in VIC
At number 370th of VIC’s most discounted properties, Thornbury is in the TOP 40% of the state/territory when listing in order of most discounted to least.
Property investors should expect to get $615 weekly from the median priced house in this suburb.
Property investors who have had real estate in Thornbury, 3071 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 3.18%
If we look at median property appreciation over just the last three months, Thornbury has given property investors a paper return of 1.34%. This puts Suburb as 165 on a list of fastest fasting appreciating suburbs in VIC
Property buyers and investors in Thornbury 3071 should be seeing an average reduction in asking price of around -7.24% . This means that Thornbury is holding prices well when compared to other suburbs in VIC.
Often selling an investment property can take time, and in Thornbury the average time real estate has been on the market is 53.6761 days.
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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.