At number 1336th in the list of Australian suburbs ordered by increase in median house value over the last year, Torquay, 3228 is in the top 40% with a property value increase of 8.51% recorded in median house prices.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Torquay has increased when compared to the 5 year average annual rate.
Vendor discounting in Torquay is giving property investors an average Vendor Discount of around -2.89%. This puts suburb at number 585th in VIC when ranking the most discounted suburbs.
Residents and property investors in Torquay have been waiting around 77.34 days to sell a property.
With the median price for a house in Torquay being $676000 and the advertised rent reaching $470 the gross rental yield for property investors calculates out to be 3.62%
Over the last year, property investments in Torquay, 3228 have given investors a capital gain of 9.71%. This compares favourably with the 2.98% for VIC as a whole.
If we look at median property appreciation over just the last three months, Torquay has given property investors a paper return of 9.19%. This puts Suburb as 24 on a list of fastest fasting appreciating suburbs in VIC
Our latest figures would indicate that property sellers in Torquay are currently offering property investors an average price cut of -3.17% below the asking price at the moment.
Torquay is 196th on a list of best yielding suburbs for rents in VIC with a 4.08% return