At number 969th in the list of Australian suburbs ordered by increase in median house value over the last year, Torrensville, 5031 is in the top 30% with a property value increase of 4.75% recorded in median house prices.
Across a shorter period, Torrensville, 5031 has seen a median price increase of 0.85% over the last quarter.
Property investors should expect to get $420 weekly from the median priced house in this suburb.
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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.