Thornbury
Thornbury's standout signal is a 10.2% vacancy rate alongside inner-north pricing, so it reads differently from nearby Northcote and Preston. Around 19,005 people live at 3702.7 people per sq km, with a $1,400,000 median house price and household income in the 74.1 percentile. Education levels sit well above the national pattern, with 57.8% university qualified, 27.7 percentage points higher than national. The suburb is dense, renter-heavy and highly credentialed because apartments, semi-detached homes and older separate houses share a compact 5.13 sq km footprint.
Population
19,005
Median Age
37.0
Household IncomeiMedian weekly household income (ABS Census)
$1,971/wk
DAs (12 months)iDevelopment Applications lodged in the past year
34
Median House
$1.4M
Apr-Jun 2024
Buyers are paying for inner-north access but not at the 2021 peak: the latest $1,400,000 median is 6.7% below the $1,500,000 high, while still 92.0% above the 2013 level. Separate houses make up 51.4% of stock, compared with 24.5% apartments and 23.4% semi-detached homes, so choice is broader than in many denser inner suburbs. Mortgage payments sit at 25.8% of income, below common stress settings, because household income is relatively high at the 74.1 percentile. The practical trade-off is space, with 35.6% of homes at 2 bedrooms and 35.9% at 3 bedrooms.
For Buyers
Buyers are paying for inner-north access but not at the 2021 peak: the latest $1,400,000 median is 6.7% below the $1,500,000 high, while still 92.0% above the 2013 level. Separate houses make up 51.4% of stock, compared with 24.5% apartments and 23.4% semi-detached homes, so choice is broader than in many denser inner suburbs. Mortgage payments sit at 25.8% of income, below common stress settings, because household income is relatively high at the 74.1 percentile. The practical trade-off is space, with 35.6% of homes at 2 bedrooms and 35.9% at 3 bedrooms.
For Investors
Thornbury has a large tenant base, with 42.8% renting compared with 27.7% owned outright and 29.5% mortgaged, but the 10.2% vacancy rate is a clear caution point. Weekly rent is $391, and the shift measure records 36.1% rent growth, so income momentum has been stronger than the current rent level suggests. Demand is helped by average overseas migration of 298 people a year, partly offset by average internal loss of 101 people a year. The 24 development applications in 12 months point to continuing small-site churn, which can lift choice but also add competing stock.
Development Activity
Total DAs
50
Last 12 Months
34
YoY ChangeiYear-over-year change in DA lodgements
+385.7%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Thornbury iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Wales Street Primary School
Prep-6 · 616 students
Holy Spirit School
Prep-6 · 129 students
Thornbury Primary School
Prep-6 · 308 students
St Mary's School
Prep-6 · 113 students
Virtual School Victoria
Prep-12 · 6248 students
Demographics
Thornbury is younger and more educated than the national benchmark: the median age is 37, which is 3.0 years below national, and 57.8% hold a university qualification, 27.7 percentage points above national. Overseas-born residents account for 27.4%, 5.8 points above national, with English, Irish, Italian and Greek ancestry prominent at 5648, 2729, 2400 and 2063 people. Compared with Preston, Thornbury reads more compact and professional, with an average household size of 2.3, lower than national by 0.2, because couples without children and smaller dwellings are common.
Age Distribution
Bedrooms
Dwelling Structure
51.4%
Houses
23.4%
Townhouse
24.5%
Apartment
Tenure
Housing is expensive but mixed in form. The $1,400,000 median in Apr-Jun 2024 is below the $1,500,000 2021 peak, yet far higher than the $729,000 2013 trough after a 92.0% rise and 4.8% CAGR across 14 years. Tenure is split between 27.7% owned outright, 29.5% with a mortgage and 42.8% renting, which gives the suburb more rental exposure than a typical family-house market. Affordability pressure is moderated by high incomes, with rent at 19.8% of income and mortgages at 25.8%, while 14.9% of dwellings have 0 or 1 bedroom and only 13.6% have 4 or more.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$2,200
Rent / wk
$391
HH Size
2.3
Personal Income / wk
$1,042
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
10.2%
Unoccupied
909
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
19.8%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
25.8%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
29.1%
Couples, no children
13,304
Total families
Economy & Employment
Thornbury's economy is strongly white-collar, with Healthcare at 17.4%, Professional/Tech at 15.4%, Education at 14.0%, Public Admin at 8.6% and Retail at 5.8%. Professionals number 4350, well above Managers at 1750 and Clerical/Admin at 1230, because the local workforce is highly qualified. Labour force participation is 66.9%, unemployment is 5.0% and full-time work accounts for 63.6% of employed residents. SEIFA highlights the split: education and occupation rank in decile 9 and IRSAD also ranks decile 9, while economic resources sit lower in decile 4, reflecting high housing costs against mixed household cashflow.
Unemployment
7.3%
Labour Force
13,283
Unemployed
964
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
63.6%
Part-time
31.4%
Participation
66.9%
Employed
10,300
Occupations
Top Industries
University
57.8%
Postgraduate
17.9%
Born Overseas
27.4%
Dwellings
7,992
Transport to Work
Livability is anchored by schools, walkability and inner-north services, but car use remains high. Seven schools operate locally, with ICSEA scores from 1021 to 1140; Wales Street Primary at 1140, Holy Spirit School at 1107 and Thornbury Primary at 1093 set the top academic context across Government and Catholic options. Commuting is mixed: 76.1% drive, 6.3% use public transport and 13.6% walk or cycle. Safety is the main watchpoint, with 1388 offences and a rate of 73.0 per 1000, mostly property and deception offences at 1033. IRSAD decile 9 is above average, supporting amenity and service depth.
Drive
76.1%
Public Transport
6.3%
Walk / Cycle
13.6%
Work from Home
N/A
Population Forecast
+0.54%/yr
(+110 people/yr)
EstablishedGrowth looks steady rather than explosive. The forecast trend is 0.54% a year, about 110 extra people annually, lifting the medium population path from 20,145 in 2026 to 20,694 in 2031. Migration is the main engine: average overseas inflow is 298 people a year, compared with average internal outflow of 101 people a year, so churn is high even when total growth is modest. The separate gentrification measure gives a score of 24 and stage of Early signs, while the shift trajectory is Stable. A 2.9% COVID dip has recovered, supporting a lower-risk growth profile than suburbs still below their pre-COVID base.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+298
Net Internal / yr
-101
Gentrification Signal
Early signs
Population +11% since 2011, Net internal outflow -101/yr, Strong overseas inflow +298/yr, COVID recovered (-3% dip → full recovery)
Safety & Crime
Total Offences
1,388
Year ending June 2024
Rate per 1,000 People
73.0
Offence Categories
Source: Crime Statistics Agency Victoria / SA Police
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Thornbury compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Thornbury a good suburb to live in?
Yes, for buyers and renters who value inner-north density, school choice and a highly educated population. Thornbury has 7 schools, 57.8% university qualification and IRSAD decile 9, though the 73.0 offences per 1000 safety rate should be weighed.
What is the median house price in Thornbury?
The median house price in Thornbury is $1,400,000 for Apr-Jun 2024. That is 6.7% below the 2021 peak of $1,500,000 but still 92.0% higher than the 2013 price of $729,000.
What schools are in Thornbury?
Thornbury has 7 local schools across Government and Catholic sectors. Wales Street Primary has ICSEA 1140 and 616 enrolments, Holy Spirit School has ICSEA 1107, and Thornbury High School has 1123 enrolments.
Is Thornbury safe?
Thornbury recorded 1388 offences, equal to 73.0 per 1000 residents. Property and deception offences were the largest category at 1033 incidents, so security and street-by-street context matter when comparing homes.
Is Thornbury good for property investment?
Thornbury has investor appeal because 42.8% of homes are rented and rents have grown 36.1%, but the 10.2% vacancy rate is higher than investors usually prefer. The 24 development applications also suggest more local supply.
How is Thornbury's population changing?
Thornbury is forecast to grow slowly at 0.54% a year, or about 110 people annually. The medium path reaches 20,694 by 2031, driven by average overseas migration of 298 people a year despite internal outflow of 101.
What development is happening in Thornbury?
There were 24 development applications in the past 12 months, including subdivision permits. That level is above the optional development threshold of 20 and points to ongoing lot-splitting and renewal rather than large greenfield growth.
How to read these comparisons
Phrases like "above the national average" reference the unweighted median across Australian suburbs with more than 1,000 residents, not population-weighted national figures. Suburb-level medians are more useful for ranking suburbs against each other; ABS census headlines are population-weighted (so dominated by Sydney and Melbourne) and can read very differently.
Current baseline (refreshed 2026-05-10): median age 40, university-educated 30.1%, born overseas 21.6%, average household size 2.5 people.
Data sources: ABS 2021 Census (demographics, income, tenure), state Valuer-General (house prices), Department of Jobs SALM (unemployment), ACARA (school ICSEA), state Crime Statistics agencies (offences), council DA portals (development applications). Population forecasts use a Hamilton-Perry cohort model calibrated to ABS ERP.
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