Property investors who have had real estate in Torrensville, 5031 should be ok with this SA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 3.80%
Over the longer term, Torrensville has seen property prices show investors a 9.33% return over the last 3 years. This is worse than over the last 12 months
With the median price for a house in Torrensville being $615000 and the advertised rent reaching $435 the gross rental yield for property investors calculates out to be 3.68%
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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.