Suburb Profile Report for Torrens ACT (2607)

Torrens House: Median price $692,500, Annual capital growth 5.83%, Number of sales 23, Weekly median advertised rent $450

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Expert Report

Torrens, 2607 ranked 20th in ACT when comparing growth in median property values or capital gain over the last 12 months. Torrens is one of 126 in our list for ACT

Over the longer term, Torrens has seen property prices show investors a 15.42% return over the last 3 years. This is worse than over the last 12 months

On average over the past year, suburb has had 1.92 sales per month, which equates to 23 per year.

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Torrens is a well-established suburb sitting approximately 10km south-west of the CBD. With its close proximity to nearby town centre Woden, and being only 3km from Canberra hospital, it offers many of the basic fundamentals investors search for.Full summary

Torrens is a well-established suburb sitting approximately 10km south-west of the CBD. With its close proximity to nearby town centre Woden, and being only 3km from Canberra hospital, it offers many of the basic fundamentals investors search for.

Rental yields may be a little flat, but the suburb offers a good selection of properties that are ripe for renovation.

Badenoch Real Estate principal Simon Badenoch explains that Torrens’ combination of high land values and properties that could do with a facelift offers some excellent add value opportunities.

“The margin between vacant land and land with an existing dwelling is very minimal. The average land price is around $400,000 and with properties selling between $470,000 and $480,000 there is scope for investors looking to increase their capital gains by renovating,” he says.

And Badenoch sees benefits for Canberra-based investors who may want to live in the property for the short term before renting it out. First homebuyers who want to make the most of their buyer’s grant before renting the property out, for example.

“Structurally, the properties are well built, so investors have the option of living in it for a couple of years before renovating and putting it on the rental market,” he says.

Amenity-wise, nearby Woden City offers a major shopping centre, and the town is currently undergoing a large transformation – including the development of a number of medium-density residential units.

SQM Research figures show residential vacancy rates rarely exceeded 1% in the past four years, and data from realestate.com.au suggests a healthy demand over supply, with approximately three people viewing every listed home.

Close
HOUSE UNIT
$692,500 N/A
-5.91% N/A
9.92% N/A
5.83% N/A
$450 N/A
23 N/A
3.38% N/A
N/A N/A

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
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Demographics
Total population 2282
Median household income ($/weekly) 1832
Median age of persons 39
Median housing loan repayment ($/monthly) 2167
Average household size 2.6
  • Census Count Percent(%)
    5-14 years 322 14.1
    25-34 years 245 10.7
    35-44 years 371 16.2
    45-54 years 319 14.0
    55-64 years 249 10.9
    Others 778 34.1
    Age Group
    Census Count Percent(%)
    Registered Married 898 53.6
    Not Married 623 37.2
    Defacto Relationship 155 9.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 1693 76.8
    Croatia 32 1.5
    Papua New Guinea 31 1.4
    United Kingdom 98 4.4
    Other 94 4.3
    Others 256 11.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 41 1.9
    Christianity 1351 64.0
    Hinduism 21 1.0
    Other Religious Groups 23 1.1
    No Religion 647 30.7
    Others 27 1.3
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 103 13.6
    $2,000-$2,499 71 9.4
    $2,500-$2,999 75 9.9
    $3,000-$3,499 82 10.8
    $4,000 or more 79 10.4
    Others 348 45.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 754 43.3
    Not in the labour force 551 31.6
    Employed, worked part-time 322 18.5
    Employed, away from work 74 4.3
    Unemployed, looking for work 40 2.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 213 18.5
    Professionals 368 32.0
    Technicians & trades workers 123 10.7
    Clerical & administrative workers 200 17.4
    Sales 88 7.7
    Others 157 13.7
    Occupation
    Census Count Percent(%)
    Pre-school 25 4.1
    Infants/Primary 205 33.6
    Secondary 183 30.0
    Technical or Further Educational Institution 65 10.6
    University or other Tertiary Institutions 117 19.1
    Others 16 2.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1996 91.1
    Semi-detached, row or terrace house, townhouse 129 5.9
    Flat, unit or apartment 66 3.0
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 313 38.2
    Being purchased 284 34.6
    Rented 223 27.2
    Other tenure type 0 0.0
    Tenure Type
Census 2011, ABS
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Recent sales & rentals