Property value increases in Torrensville have tracked just higher than the SA average of 2.99% over the last 12 months.
Torrensville,5031 was ranked 3899 in Australia by increase in median property value over the quarter.
Torrensville is 288th on a list of best yielding suburbs for rents in SA with a 3.78% return
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Information supplied by:
September 2018
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Market bouncing back
Postcode: 5031
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.