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Toora, VIC 3962

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Toora, VIC 3962 to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Toora, VIC 3962”

  1. The total adult population (15 years or older) of Toora 3962 VIC is 601, with a median age of 53. Of those, 44.59% are married, 16.47% are divorced or separated, 31.11% are single and 7.49% are widowed.

    The average household size is 2.1 people per dwelling, and the median household monthly income is estimated to be $4,760. The median monthly mortgage repayment for households in this suburb is $1,000 which is 21.01% of their earnings.

    Source: ABS Census Data (2021)

  2. Set among the lush landscapes of Victoria, the suburb of Toora 3962 is home to an estimated 542 households. As we journey through Q3 of 2023, we observe that the typical price for houses in Toora stands at $432,124, presenting solid opportunities for buyers and investors alike.

    The ease of lockdown tuning into the local rental market, one can secure a median weekly rent of $390, resulting in an attractive indicative yield of 4.69%. This yield surpasses the minimum 3% considered desirable by cashflow-focused investors, hinting at favourable returns for savvy landlords.

    Toora also manifests a sturdy socio-economic backdrop, as evident from its IRSAD score of 904 out of 1217. This underscores a high degree of economic resources and skilled occupations within the community, giving the neighbourhood a vibrant and flourishing ambiance.

    Market characteristics further reveal a favourable renter to owner ratio of 19%, well below the 30% threshold. This balance suggests a property market less saturated with rental properties, conducive to high long-term returns for property owners.

    Unit-to-house ratio in this suburb is impressively low at 1%, indicative of a distinct preference for family homes over apartments or units. Such a dynamic could lead to less competition among landlords for tenants, and potentially higher rental yields in the long run.

    However, something to contemplate is the affordability index, which stands at 38 years for Toora. This signals a potential difficulty for many residents to fully own a property, despite the current interest rates, median family income, and property prices.

    In terms of supply, Toora expresses an appealingly low stock on market percentage of 0.18%, and an inventory level of 1.0 months, affirming a market quickly absorbing new listings. Interestingly, building approvals ratio is at a standstill, depicting a limited supply of new dwellings on the horizon, thereby inciting a favourable condition for existing homeowners and investors.

    Yet, the average listing stays on the market for 174 days, suggesting a possibly slow absorption or lower demand. Nonetheless, a moderate vacancy rate of 1.94% and a buy search index of 3 might indicate neutral sentiments in the market, with interest potentially catching up soon.

    Despite some metrics appearing unfavourable, the overall outlook for Toora’s property market remains trending upwards. Use RCS developed by HtAG Analytics, which automates this research using over 80 metrics, to monitor real-time trends and indicators to ensure beneficial investments in the vibrant real estate landscape of Toora 3962.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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