Thornbury

POSTAL CODE: VIC, 3071
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A steady increase in median property prices over a five-year period in the suburb translates to a -0.34% capital gain.

It also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $1,450,000

The augmented property values in the suburb are trailing behind the territorial average of 2.91% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $670.

Home owners selling their properties and realtors in THORNBURY usually have to wait an average of 47.7 days days before their assets are lifted off the market.

The VIC suburb ranks 522nd on the list of best yielding suburbs for rental properties in VIC, posting a 2.4% return.

It also places places 195th in Australia based on median property value growth during the quarter.

Surburb overview

Thornbury, located approximately 7 kilometres northeast of Melbourne's Central Business District, is an inner-city suburb within the City of Darebin, Victoria. As of the 2021 census, it had 19,005 residents.

The suburb is a vibrant community with diverse amenities. High Street serves as the central hub, featuring a variety of cafes, restaurants, and shops, particularly in the Thornbury Village precinct. The area has undergone significant revitalisation recently, enhancing its appeal to residents seeking an inner-city lifestyle with ample entertainment and dining options.

Thornbury offers abundant green spaces, with 26 parks covering nearly 13.6% of its area. Notable recreational areas include the Strettle Wetland Reserve and the Merri Creek Trail, providing scenic views, cycling and walking tracks, and play areas.

Public transportation is well-developed, with multiple bus routes, tram lines, and the Thornbury railway station facilitating convenient access to Melbourne's city centre and surrounding suburbs.

Thornbury offers a range of housing options. The median property price is approximately $1,455,000, and annual capital growth is 2.46%. Rental yields are around 2.82%, and the median weekly rent is $715.

Thornbury's blend of cultural diversity, accessible amenities, and recreational facilities contributes to its appeal as a residential suburb in Melbourne's northern corridor.

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