Suburb Profile Report for Torquay VIC (3228)

Torquay House: Median price $676,000, Annual capital growth 5.96%, Number of sales 295, Weekly median advertised rent $470

Torquay Unit: Median price $505,500, Annual capital growth 2.68%, Number of sales 48, Weekly median advertised rent $397

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

Source: CoreLogic

  • House Report
  • Unit Report

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

Metrics i HOUSE UNIT
$676,000 $505,500
1.31% 9.19%
8.51% 9.71%
5.96% 2.68%
$470 $397
295 48
3.62% 4.08%
77.34 64.34

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
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Demographics
Total population 10141
Median household income ($/weekly) 1430
Median age of persons 38
Median housing loan repayment ($/monthly) 2167
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 1549 15.3
    25-34 years 1134 11.2
    35-44 years 1811 17.9
    45-54 years 1286 12.7
    55-64 years 1217 12.0
    Others 3144 31.0
    Age Group
    Census Count Percent(%)
    Registered Married 3890 56.6
    Not Married 2249 32.7
    Defacto Relationship 738 10.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 8456 86.4
    Papua New Guinea 123 1.3
    South Africa 87 0.9
    United Kingdom 581 5.9
    Other 125 1.3
    Others 416 4.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 94 1.0
    Christianity 5972 64.3
    Islam 36 0.4
    Other Religious Groups 42 0.5
    No Religion 3134 33.7
    Others 13 0.1
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 270 8.6
    $600-$799 288 9.2
    $1,500-$1,999 419 13.4
    $2,000-$2,499 371 11.8
    $2,500-$2,999 327 10.4
    Others 1461 46.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2871 38.4
    Not in the labour force 2360 31.6
    Employed, worked part-time 1687 22.6
    Employed, away from work 337 4.5
    Unemployed, looking for work 219 2.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 730 14.9
    Professionals 1263 25.8
    Technicians & trades workers 728 14.9
    Community & personal service workers 508 10.4
    Clerical & administrative workers 620 12.7
    Others 1042 21.3
    Occupation
    Census Count Percent(%)
    Pre-school 232 9.1
    Infants/Primary 1064 41.7
    Secondary 678 26.6
    Technical or Further Educational Institution 184 7.2
    University or other Tertiary Institutions 323 12.7
    Others 70 2.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 8205 87.8
    Semi-detached, row or terrace house, townhouse 609 6.5
    Flat, unit or apartment 506 5.4
    Caravan, cabin, houseboat 13 0.1
    House or flat attached to a shop, office 9 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1419 40.7
    Fully owned 1141 32.7
    Rented 905 25.9
    Other tenure type 23 0.7
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals