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Thornhill Park, VIC 3335

Home » VIC Real Estate Data » Melton City, VIC » Thornhill Park, VIC 3335

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Thornhill Park, VIC 3335 located in Melbourne to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

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Yield 

1BR

2BR

3BR

Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Thornhill Park, VIC 3335”

  1. Homes in Thornhill Park, located in Victoria with an estimated 3326 households, provide a promising opportunity in the Australian housing market going into the third quarter of 2023. The average price for houses is listed at $609,248 AUD. Alongside this, the median weekly rent is steady at $388, resulting in an indicative yield of 3.3%, slightly above the minimum market requirement, favourable for cashflow-focused property investors.

    The area boasts an IRSAD score of 1010 out of 1217, indicative of a strong socio-economic status. The renter to owner ratio stands at 31%, slightly above the ideal range but still within acceptable limits, suggesting a balanced investing environment. Interestingly, the units to houses ratio is 0%, showing that the area is dominated by houses, which typically attract longer tenancies.

    The affordability index is 29 years, signaling a high rate of affordability amongst the residents. It portrays a market that is balanced and suitable for potential home buyers, falling just under the standard 30-year mortgage assumption.

    In terms of supply metrics, the stock on market percentage is at 0.61%, signifying modest supply in the market. This is complemented by a comfortable inventory level of 2.89 months for houses. However, the building approvals ratio for houses does stand at 3.25%, indicating a prospective increase in local housing supply which needs close monitoring.

    The demand metrics show a slightly longer average of 111 days on the market for houses, suggesting a lower demand. Even so, the vacancy rate is reasonably balanced at 3.8%, but needs to be cautiously observed as it verges towards the higher demand end. Additionally, the buy search index hovers around an average score of 5 – an indicator of a balanced buyer interest in this promising suburb.

    In conclusion, Thornhill Park showcases itself as a prospect worth considering for property investors and buyers. However, it’s equally essential to monitor the market closely for shifts in supply, demand and socio-economic factors. It’s okay to have a mix of measures in variable ranges as long as the broader picture stays favourable or as trends indicate. The RCS metrics from HtAG Analytics can further simplify this research process by providing a comprehensive analysis based on over 80 metrics.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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