Get a property report and suburb profile for any property in Thomastown

Thomastown is an established northern suburb of Melbourne with a practical, lived-in character: many post-war brick homes alongside pockets of newer townhouses and some light industrial areas. Everyday life is supported by neighbourhood shops and a local shopping centre, schools, community clubs and green spaces such as Edgars Creek and the Thomastown Recreation Reserve. Thomastown railway station on the Mernda line and a network of buses make commuting and connections straightforward, while parks and sporting ovals help keep weekends local.

The suburb has a multicultural, family-oriented population of 20,234 and a median age of 39, and about 70.3% of homes are owner-occupied. The town centre is the focus of a renewal program that includes streetscape work to better link the station and shops, upgrades to retail and community facilities, and improvements to recreation, library and school amenities. Whether Thomastown suits you will depend on how much you value established housing, local services and public transport links.

Rent and purchase costs in Thomastown sit notably above what a typical local household earned at the last Census. A house rent of $550 a week would take about 44.9% of a typical local household's weekly income at the last Census, which is a large share, while a unit at $460 a week would take about 37.6%, a sizeable share. On the buying side, the median house price of $760,000 is about 11.9 times a typical local household's annual income at the last Census, and the median unit price of $514,069 is about 8.1 times annual income — both are well above local incomes recorded at the last Census. Whether that feels expensive depends on your own income and circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Units have been the clearest mover in Thomastown this year: median unit values climbed 13.9% over the past 12 months, a strong rise, while unit rents increased 2.2%, a modest gain. House values also rose, up 8.3% (a solid increase), and house rents grew 5.8%, another solid rise.

For someone weighing Thomastown as an investment, the value figures point to capital growth over the year and the rent figures point to rental income. Units showed stronger capital growth than houses this year, while houses recorded bigger rent growth than units. Whether that balance fits your aims depends on your own goals and circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.