Market update

Thornton has seen a raft of development over the past few years, with established subdivisions and recent releases piquing the interest of investors and families alike.

Somerset Park and Woodlands Estate are already firmly loved parts of the area, but newer allotments such as Wirraway are expanding the neighbourhood even more in the right direction.

Now selling its final stage, the Defence Housing initiative has dedicated spaces for the community. An aviation-themed playground opened this year with fitness station, skateboard zone, basketball court and playground for the young ones. Cycle ways and parklands add to the growing momentum of community and wellness that the suburb has been experiencing.

Thornton is ahead of the curve; it’s largely still an untapped commodity in terms of the existing dwellings. While there is much development happening in the way of new builds, many of the established houses are available at great prices.

The average search for Thornton sits at only 330 online visits per property, compared to the state average of 842. Despite these lower search figures, properties are only spending an average of 44 days on the market and already this year over 140 houses have been sold, indicating a strong interest from locals which investors should also take note of.

There is a fairly even divide in terms of resident demographics: 25.9% are older couples, 24.6% are established couple and families and 16.3% are younger families. The average age is 40-59 and most residents are in the process of purchasing their home, as opposed to renting.

 

Living local

Thornton is a mix of residential and commercial properties, each staying to individual enclaves.

The suburb has Thornton Public School and a number of day care centres. A selection of high schools are not far away in East Maitland and Maitland.

Green Hills Shopping Centre is only a 10-minute drive, but Thornton has its own small shopping village with the essentials – medical centre, pharmacy, post office, groceries and homewares.

There are a few small eateries in the village, but the dining, nightlife and entertainment of East Maitland and Maitland is only 10 minutes away, plus enjoy access to all that Newcastle has to offer in under 25 minutes.

Thornton is bisected by the New England Highway and major upgrades to arterial roads have been completed over the past decade, making it easy to get around for residents. Its proximity to the M1 and Hunter Expressway means Sydney and the Upper Hunter are readily accessible.

The suburb has a train station and is serviced regularly by the Hunter Line to Newcastle and Maitland and Dungog.

 

Facts and figures

  • Median house price: $510,000
  • McElwaine median house price: $502,500
  • Median house rental: $430 per week
  • Median unit price: $424,000
  • Median unit rental: $383 per week
  • McElwaine highest house price: $585,000