Investment property in Torrensville has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -3.57%
Across a shorter period, Torrensville, 5031 has seen a median price increase of 0.33% over the last quarter.
Our latest figures would indicate that property sellers in Torrensville are currently offering property investors an average price cut of -1.63% below the asking price at the moment.
Using the current median advertised rental of $440 and the average annual increase in value of a median property of 3.00%, investors should hope to achieve an overall return of 3.76%
Over the last year, property investments in Torrensville, 5031 have given investors a capital gain of -4.07%. This compares badly with the 3.19% for SA as a whole.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Torrensville has increased when compared to the 5 year average annual rate.
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.