thomastown

3074, Victoria

Real Estate & Property Information

Median
Price Rank
356

thomastown Suburb Profile & Review

A growing multicultural area with a strong family base, Thomastown is known for its big backyards, schools, childcares centres, parks and reserves. As an established area with a diverse culture and direct access to the Western Ring Road and the Hume Freeway, Thomastown offers affordable housing prices and a peaceful suburban lifestyle only thirty minutes from the city.

Thomastown Station has undergone a considerable revamp to cater to the climbing commuter population, and suburban buses frequently travel to Epping, Bundoora and Northland Shopping Centre. The High Street shopping strip is conveniently placed by the train station, as are several restaurants and cafes, such as East Ocean Restaurant, a modern Asian eatery featuring a lively karaoke lounge. Other shopping centres can be found at the corner of Edgars Road and Main Street and on Settlement Road and Dalton Road.

Outdoor markets, boutique stores and sports meets are popular, with the Galada Tamboore Path and the Western Ring Road Trail providing facilities for recreational and commuting cyclists. The Thomastown Recreational and Aquatic Centre on Main Street boasts swimming pools, a fitness club and a multi-purpose sports court.

thomastown Demographic Data

$ 400,000 Median House Price

30 Minutes Average Commute

38 Median Age

20,331 Population

49.86 % Female

50.14 % Male

5795 NO OF FAMILIES

1.8 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in thomastown, Victoria.

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thomastown Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

thomastown Median House Prices

  • 2008 $ 280,000
  • 2009 $ 328,000
  • 2010 $ 350,000
  • 2011 $ 416,000
  • 2012 $ 400,000

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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thomastown 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in thomastown have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term thomastown property price predictions.

thomastown Market Property Types

  • 90 % Seperate House
  • 3 % Semi Detached
  • 6 % Flat or Unit
  • 0 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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thomastown Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

thomastown Income & Mortgage Stats

  • $ 900 Median Weekly Household Income
  • $ 1,517 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in thomastown

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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thomastown Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

thomastown Sold Property Prices

thomastown Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

thomastown Related Local Blog Posts

Immigrants Are Pushing House Prices Higher

Much of Australia’s history and success has been built on the back immigration but are the current intake levels too high and how are they impacting prices?

Hangover Stock Brings About Buying Opportunities

This week Melbourne’s auction market has been tested with over 1200 properties reportedly going under the hammer over the weekend. Although both Domain and the REIV show clearance rates at nearly 70%, this on the surface seems good but in actual fact is 10% down for the same time last year. Speaking to a number of agents around town confirms….

Where is The Property Market Heading?

There has been a lot of “white noise” surrounding the Sydney and Melbourne property market over the last few months and it has taken me a while to determine which way things were actually going to go. Is the Australian property market heading down the gurgler or is this just a glitch?

Property Market Trends in Melbourne Which Could Affect Prices

In this final edition we look at what how the Melbourne property market has fared and what whether we are likely to see any changes in property prices, demand for property and economic drivers.

New Research Shows Consumers Who Don’t Own A Home Could Be Worse Off in Retirement

New Research released last week by Roy Morgan shows that people who don’t own a home have become worse off in terms of their net wealth and are jeopardising their retirement.

Is Australian Housing Heading for a Hard Landing or a Financial Cliff?

From my experience and talking with real estate agents the Melbourne market has softened no doubt, but are we heading towards a financial cliff?

thomastown Restaurants

  • Tandoori Sizzler6 The Boulevard thomastown VIC 307403 9465 0387
  • Thomastown Kebab House265 High Streetthomastown VIC 307403 9464 4833
  • St Alexander's Kitchen130a Alexander Avethomastown VIC 307403 9078 6107

thomastown Cafes

  • The Provincial Bakehouse & CafeUnit 4, 71 Northgate Drivethomastown VIC 307403 9464 7842
  • Thomastown Coffee Bar6 The Boulevard thomastown VIC 307403 9465 0387
  • Big Bite CafeShop 1, 46 Commercial Drivethomastown VIC 307403 9466 1102

thomastown Schools

  • St. Johns Primary SchoolRegal Avenuethomastown VIC 3074(03) 9465 6066Catholic Primary School
  • St. Clares Primary SchoolHarbard Streetthomastown VIC 3074(03) 9465 8535Catholic Primary School
  • Baltara School27 Waratah Streetthomastown VIC 3074(03) 9465 2405Specialist School

thomastown Childcare

  • Thomastown Child Care Centre129 Edgars Roadthomastown VIC 3074
  • Thomastown Learning Centre113-115 Dalton Roadthomastown VIC 3074

thomastown Kindergarten and Preschools

  • Barry Road Preschool32 Barry Roadthomastown VIC 3074
  • Dalton Road Kindergarten149-151 Dalton Roadthomastown VIC 3074
  • Harbard Street KindergartenHarbard Streetthomastown VIC 3074

thomastown Sporting Centres and Clubs

  • Lalor, HR Uren Resthomastown VIC 3074Soccer Club
  • Barry Rd Tennis Clubthomastown VIC 3074Tennis Club & Courts
  • St. Lukes TCthomastown VIC 3074Tennis Club & Courts

Find out How Much your House is Worth in thomastown

Request a free market Basic Report for thomastown to get a general idea of property prices in your area, or a more specific CMA Report for the property you own.

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