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There is no such thing as a get-rich-quick scheme when it comes to property investment. To succeed, you must plan, prepare, and do your homework. Be aware of your budget and what you can and cannot afford. Even though many newbie investors just focus on the fee, and overall look of the property, the location is the most crucial factor. As one of Australia’s many suburbs, Thomastown is a haven for young couples or families looking to settle down.
If you’re looking for houses for sale in Thomastown, then here are the top reasons why you should buy in Thomastown:
Thomastown is located approximately 17 km north of Melbourne’s CBD. It is bound by Merri Creek in the west and Mahoneys Rd in the south. In addition to the commercial area on High Street, the suburb is traversed by Edgars Creek and its surrounding parks. The southern border of the area is occupied by the Keon Park railway station, as well as a shopping center nearby. Additionally, Thomastown has a large Italian, Greek, and Macedonian population. Bundoora, Lalor, and Wollert are nearby suburbs.
The housing options in Thomastown are diverse. Thomastown houses sell for a median price of $588,000 and apartments for $438,000 on average. This represents a median gross yield of 3.4%. Most homes in the suburb are detached houses, 8.5% are semi-detached, row, or terrace houses, and 5.8% are flats or apartments. Among these houses, 44.1% are owned outright, 24.4% have a mortgage owing, and 26.7% are rented.
Thomastown is not a suburb that offers a great deal of nightlife or fine dining despite its shops and plenty of food options. Nevertheless, with easy access to other parts of Melbourne, you can always go somewhere close by if you feel like it. For those that prefer a quieter lifestyle, Thomastown offers many interesting options. Thomastown also has a multicultural heritage. The area is home to many nationalities and cultural heritages. There are many restaurants and shops nearby, as well as schools, and recreational venues like golf, swimming, and the Thomastown train station.
Thomastown’s estimated resident population in 2021 is 20,233, with a population density of 1,349 persons per square kilometer. As a whole, the population has an average age of 38 years old, encompassing people of all ages and stages of life. 16.4% of the residents are children 0-14 years old, while 20.1% of the population is 65 years and older.
According to a recent report, Thomastown, a suburb in Melbourne, is proving particularly popular with first-home buyers and investors. The median prices of houses in Thomastown, Epping, etc. were all below $500,000 in the year to July, and almost all sales were for less than $600,000. In today’s market, Thomastown’s affordability and proximity to the city are the major factors that attract buyers. Thomastown’s median apartment price is around $295,500, and its median rent is $300, reflecting a 5% yield.
With an impressive selection of attractions, experiences, and lifestyles on offer, Thomastown is one of the best places to live in Victoria, Australia.