Suburb Profile Report for Thornbury VIC (3071)

Thornbury House: Median price $1,195,000, Annual capital growth 7.93%, Number of sales 175, Weekly median advertised rent $550

Thornbury Unit: Median price $522,000, Annual capital growth 6.78%, Number of sales 177, Weekly median advertised rent $360

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

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.

Information supplied by:


October 2017

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A large suburb less than 10km from Melbourne, Thornbury is a busy area undergoing significant growthFull summary

Housing supply hits a high note

Postcode: 3071

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.

 

Close
Metrics i HOUSE UNIT
$1,195,000 $522,000
-0.42% -0.19%
9.89% 4.19%
7.93% 6.78%
$550 $360
175 177
2.39% 3.59%
49.43 50.21

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 17433
Median household income ($/weekly) 1276
Median age of persons 36
Median housing loan repayment ($/monthly) 2000
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 1547 8.9
    25-34 years 3859 22.1
    35-44 years 3236 18.6
    45-54 years 2142 12.3
    55-64 years 1373 7.9
    Others 5276 30.3
    Age Group
    Census Count Percent(%)
    Not Married 6346 47.5
    Registered Married 5253 39.3
    Defacto Relationship 1763 13.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 10876 66.8
    Hong Kong 849 5.2
    Indonesia 645 4.0
    Japan 775 4.8
    Other 733 4.5
    Others 2415 14.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 463 3.0
    Christianity 8358 53.6
    Hinduism 547 3.5
    Islam 473 3.0
    No Religion 5485 35.2
    Others 256 1.6
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 622 9.6
    $1,000-$1,249 587 9.1
    $1,500-$1,999 824 12.8
    $2,000-$2,499 611 9.5
    $2,500-$2,999 581 9.0
    Others 3223 50.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 5671 41.1
    Not in the labour force 4241 30.8
    Employed, worked part-time 2858 20.7
    Employed, away from work 533 3.9
    Unemployed, looking for work 479 3.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 1094 12.1
    Professionals 3034 33.5
    Technicians & trades workers 979 10.8
    Community & personal service workers 846 9.3
    Clerical & administrative workers 1344 14.8
    Others 1769 19.5
    Occupation
    Census Count Percent(%)
    Pre-school 290 7.7
    Infants/Primary 1032 27.4
    Secondary 589 15.6
    Technical or Further Educational Institution 454 12.0
    University or other Tertiary Institutions 1237 32.8
    Others 166 4.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 10926 67.3
    Flat, unit or apartment 3874 23.9
    Semi-detached, row or terrace house, townhouse 1285 7.9
    House or flat attached to a shop, office 145 0.9
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 2904 41.9
    Fully owned 2013 29.0
    Being purchased 1990 28.7
    Other tenure type 31 0.4
    Tenure Type
Census 2011, ABS
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Recent sales & rentals