Property value increases in Torrensville have tracked close to the SA average of 2.25% over the last 12 months.
Torrensville,5031 has offered an average of 0.45% return per annum in house price rises to property investors over the last three years.
In the last year 40 properties changed hands in Torrensville, which puts it as the 219th most active market in SA when comparing the number of sales per suburb.
A $420 per week rent on the median house gives suburb investors a gross yield of circa 3.95%, without taking into account capital value appreciation, which has been averaging out at 2.92%.
Information supplied by:
Market bouncing back
Median unit price: $419,000
Three-year growth: 2.2%
Rental yield: 4.0%
Roughly 10 minutes’ drive west of Adelaide sits the suburb of Torrensville, which is aiming to recover after a slippery 2017-2018.
In that year, unit prices dropped by 6.5%, interrupting the positive growth trend recorded by the suburb since 2013. However, in the three months to June 2018, values soared by 22.5%, bringing the median unit price to just shy of $420,000.
There seems to be reasonable demand for apartments in this area among buyers, who are snapping up apartments after an average of only 42 days on the market. Landlords are earning reasonable returns of 4.2% from rents of $320 per week.
Torrensville is the site of educational facilities like Thebarton Senior College and Torrensville Primary School. Thebarton Theatre on Henley Beach Road was built in 1926 and is one of the most well-known medium-sized venues in Australia.