Thornbury suburb profile
Thornbury is a vibrant suburb located 7km north of Melbourne's CBD, known for its eclectic mix of culture, creativity, and community spirit. With a rich history and a diverse population, Thornbury offers a unique blend of old-world charm and modern living. The suburb is dotted with trendy cafes, boutique shops, and lively music venues, making it a popular destination for young professionals and families. Its well-connected public transport options, including trams and trains, provide easy access to the city and surrounding areas. Thornbury's welcoming atmosphere and thriving arts scene contribute to its appeal as a dynamic and inclusive community.
Thornbury property market performance
Thornbury's property market has shown stability over the past 12 months, with house values experiencing a modest increase of 1.8%, while unit values have remained unchanged. The median house price over the past three months has averaged $1.28 million, and units have averaged $607,500, indicating a steady demand for both property types.
Sales activity has been consistent, with 45 houses and 24 units sold in the past three months. Houses are taking slightly longer to sell, with a median of 35 days on the market, compared to 30 days for units, suggesting a balanced interest in both sectors.
The rental market in Thornbury has seen varied changes, with house rents remaining stable over the last 12 months, while unit rents have increased by 6.7%, reflecting a growing demand for rental units in the area.
Median price - houses$1.28MPast 3 months
Median price - units$608KPast 3 months
Change in value - houses1.8%12 months
Change in value - units-12.8%12 months
Houses sold45Past 3 months
Units sold24Past 3 months
Median DOM - houses35Past 12 months
Median DOM - units30Past 12 months
Average rent - houses$680Past 12 months
Average rent - units$480Past 12 months
Change in rent - houses-2.9%Past 12 months
Change in rent - units6.7%Past 12 months
Thornbury demographics
Thornbury, located in Melbourne's inner north, is a vibrant suburb known for its eclectic mix of culture, community, and convenience. With a population of 19,005 and a median age of 37, Thornbury attracts a diverse range of residents, from young families to professionals and retirees. The suburb's proximity to the city and its unique blend of urban and suburban living make it a popular choice for those seeking a balanced lifestyle.
The family-oriented nature of Thornbury is evident, with 43.1% of households being couple families with children and 40.6% being couple families without children. This highlights the suburb's appeal to both growing families and those who prefer a quieter, more settled lifestyle. Additionally, 14.3% of households are one-parent families, reflecting a supportive community environment.
Housing in Thornbury is a mix of ownership and rental, with 27.7% of properties owned outright and 29.5% owned with a mortgage. The rental market is also significant, with 42.8% of properties being rented, catering to those who prefer flexibility or are new to the area. The median total household income of $1,971 per week indicates a relatively affluent community, with residents enjoying the benefits of Thornbury's thriving local economy, cafes, and cultural events.
Thornbury infrastructure, key developments and investment opportunities
Thornbury is experiencing several developments that could influence its property landscape. The ongoing revitalization of High Street, including new retail and dining options, is enhancing the suburb's appeal and walkability. Plans for improved cycling infrastructure along St Georges Road aim to boost connectivity and sustainable transport options. Additionally, the proposed redevelopment of the former Northcote Pottery site into a mixed-use precinct could bring new housing and community spaces to the area.
The suburb continues to benefit from its proximity to quality schools and public transport, with ongoing upgrades to Thornbury Primary School and nearby train stations. The expansion of green spaces, including improvements to Mayer Park, adds to the area's livability. These developments, combined with Thornbury's established charm and inner-city location, are likely to maintain strong interest in the local property market from both homebuyers and investors.
Thornbury rental market trends
The rental market in Thornbury has shown stability, with house rents remaining unchanged at $680 per week over the past year. In contrast, unit rents have experienced a 6.7% increase, reaching $480 per week. This suburb continues to attract renters with its vibrant community and convenient access to Melbourne's amenities, making it a desirable location for both residents and investors.
Suburbs near Thornbury
Some popular suburbs near Thornbury include: