Suburb Profile Report for Torquay VIC (3228)

Torquay House: Median price $743,750, Annual capital growth 5.10%, Number of sales 307, Weekly median advertised rent $490

Torquay Unit: Median price $575,000, Annual capital growth 4.20%, Number of sales 60, Weekly median advertised rent $390

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report

At number 1919th in the list of Australian suburbs ordered by increase in median house value over the last year, Torquay, 3228 is in the top half with a property value increase of 7.50% recorded in median house prices.

Across a shorter period, Torquay, 3228 has seen a median price increase of 0.83% over the last quarter.

Property investors looking for a bargain in Torquay should be aiming for at least -2.84% off the asking price, which is the average vendor discount being achieved at the moment.

In the last year 327 properties changed hands in Torquay, which puts it as the 48th most active market in VIC when comparing the number of sales per suburb.

Using the current median advertised rental of $490 and the average annual increase in value of a median property of 5.08%, investors should hope to achieve an overall return of 3.49%

Torquay is in the TOP 20% in VIC when comparing median price capital growth over the last year. Torquay gave property investors a very good capital gain figure when compared to the rest of the state, with 18.56%.

Across a shorter period, Torquay, 3228 has seen a median price increase of 6.48% over the last quarter.

Torquay, 3228 is offering VIC ‘s 267th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 20% of discounts offered by this VIC.

Using the current median advertised rental of $390 and the average annual increase in value of a median property of 4.36%, investors should hope to achieve an overall return of 3.53%

Metrics i HOUSE UNIT
$743,750 $575,000
1.88% 4.55%
7.79% 14.54%
5.10% 4.20%
$490 $390
307 60
3.43% 3.53%
49.91 64.52

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 10141
Median household income ($/weekly) 1430
Median age of persons 38
Median housing loan repayment ($/monthly) 2167
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 1549 15.3
    25-34 years 1134 11.2
    35-44 years 1811 17.9
    45-54 years 1286 12.7
    55-64 years 1217 12.0
    Others 3144 31.0
    Age Group
    Census Count Percent(%)
    Registered Married 3890 56.6
    Not Married 2249 32.7
    Defacto Relationship 738 10.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 8456 86.4
    Papua New Guinea 123 1.3
    South Africa 87 0.9
    United Kingdom 581 5.9
    Other 125 1.3
    Others 416 4.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 94 1.0
    Christianity 5972 64.3
    Islam 36 0.4
    Other Religious Groups 42 0.5
    No Religion 3134 33.7
    Others 13 0.1
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 270 8.6
    $600-$799 288 9.2
    $1,500-$1,999 419 13.4
    $2,000-$2,499 371 11.8
    $2,500-$2,999 327 10.4
    Others 1461 46.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2871 38.4
    Not in the labour force 2360 31.6
    Employed, worked part-time 1687 22.6
    Employed, away from work 337 4.5
    Unemployed, looking for work 219 2.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 730 14.9
    Professionals 1263 25.8
    Technicians & trades workers 728 14.9
    Community & personal service workers 508 10.4
    Clerical & administrative workers 620 12.7
    Others 1042 21.3
    Occupation
    Census Count Percent(%)
    Pre-school 232 9.1
    Infants/Primary 1064 41.7
    Secondary 678 26.6
    Technical or Further Educational Institution 184 7.2
    University or other Tertiary Institutions 323 12.7
    Others 70 2.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 8205 87.8
    Semi-detached, row or terrace house, townhouse 609 6.5
    Flat, unit or apartment 506 5.4
    Caravan, cabin, houseboat 13 0.1
    House or flat attached to a shop, office 9 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1419 40.7
    Fully owned 1141 32.7
    Rented 905 25.9
    Other tenure type 23 0.7
    Tenure Type
Census 2011, ABS
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Recent sales & rentals