VIC has seen average median house prices change by 8.62% which means that Thornbury, 3071 has done well for property investors by showing a capital gain of 2.16% over the last year
When looking at the potential capital gains offered to property investors over the last 3 years, Thornbury comes in at number 331th in VIC.
The most recent median price for Thornbury is $1185000, with sellers offering an average of -5.62% off the asking price.
A $560 per week rent on the median house gives suburb investors a gross yield of circa 2.46%, without taking into account capital value appreciation, which has been averaging out at 7.71%.
Thornbury has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -3.65% to date .
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Thornbury has increased when compared to the 5 year average annual rate.
Thornbury, 3071 is offering VIC ‘s 206th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 40% of discounts offered by this VIC.
Often selling an investment property can take time, and in Thornbury the average time real estate has been on the market is 53.66 days.
Using the current median advertised rental of $360 and the average annual increase in value of a median property of 6.05%, investors should hope to achieve an overall return of 3.74%
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.