Thornhill Park is a smaller suburb in Victoria within the Melton local government area (postcode 3335). With a population of 3,066, the suburb has a young professional demographic with a median age of 29. Households earn a median income of $104K per year, with an average household size of 3 people. The most common occupations are professionals, technicians & trades, clerical & administrative. The top ancestries reported are Australian, Indian, English.
The median house price in Thornhill Park is $590,000, having declined 3.3% over the past year. The current median weekly rent is $470. This gives a gross rental yield of approximately 4.1%. The median monthly mortgage repayment is $1,950.
Thornhill Park is served by 1 school, including 1 primary. The average ICSEA score is 1019, which is around the national average of 1,000. Public transport access includes 3 rail stations, 1 bus stop. The crime rate in the Melton LGA is moderate at 7,219 incidents per 100,000 population.
From an investment perspective, Thornhill Park offers a gross rental yield of 4.1%, rated as moderate yield. Property prices sit below the state median ($590K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 5.7x is considered affordable. House prices have moved -3.3% year-on-year.
Thornhill Park is a smaller suburb in Victoria within the Melton local government area (postcode 3335). With a population of 3,066, the suburb has a young professional demographic with a median age of 29. Households earn a median income of $104K per year, with an average household size of 3 people. The most common occupations are professionals, technicians & trades, clerical & administrative. The top ancestries reported are Australian, Indian, English.
The median house price in Thornhill Park is $590,000, having declined 3.3% over the past year. The current median weekly rent is $470. This gives a gross rental yield of approximately 4.1%. The median monthly mortgage repayment is $1,950.
Thornhill Park is served by 1 school, including 1 primary. The average ICSEA score is 1019, which is around the national average of 1,000. Public transport access includes 3 rail stations, 1 bus stop. The crime rate in the Melton LGA is moderate at 7,219 incidents per 100,000 population.
From an investment perspective, Thornhill Park offers a gross rental yield of 4.1%, rated as moderate yield. Property prices sit below the state median ($590K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 5.7x is considered affordable. House prices have moved -3.3% year-on-year.