Torrensville, 5031 ranked 342th in SA when comparing growth in median property values or capital gain over the last 12 months. Torrensville is one of 853 in our list for SA
While Torrensville,5031 ranked number 101th in SA for increase in median house value (annualised) increase, it is ranked 222th over the last 5 years.
At number 1955 in a list of fastest selling suburbs, Torrensville is just in the top half of suburbs in Australia with an average of days on market 56.3158 for properties listed there.
Situated 3.70km from the CBD, Torrensville is one of West Torrens (C) localities in the postcode 5031.
Over the last year, property investments in Torrensville, 5031 have given investors a capital gain of -6.93%. This compares very badly with the 4.52% for SA as a whole.
A $382.5 per week rent on the median house gives suburb investors a gross yield of circa 4.86%, without taking into account capital value appreciation, which has been averaging out at 7.17%.
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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.