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Toorak, VIC 3142

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 Toorak, VIC 3142 located in Melbourne 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 “Toorak, VIC 3142”

  1. The total adult population (15 years or older) of Toorak 3142 VIC is 11,428, with a median age of 47. Of those, 46.48% are married, 10.20% are divorced or separated, 37.30% are single and 6.00% are widowed.

    The average household size is 2.1 people per dwelling, and the median household monthly income is estimated to be $15,636. The median monthly mortgage repayment for households in this suburb is $3,152 which is 20.16% of their earnings.

    Source: ABS Census Data (2021)

  2. The affluent suburb of Toorak 3142 is situated in Victoria, housing roughly 7977 households. As of Q3, 2023, house prices in Toorak sit at a significant $3,966,160, with a respectable median rent of $1,041 per week. However, this generates a relatively low indicative yield of 1.36% for investors.

    Toorak’s socio-economic standing is robust with an IRSAD score of 1150 out of 1217, suggesting a privileged access to economic resources, upper-tier income levels, and skilled professions. The renter-to-owner ratio is slightly high at 31%, indicating that the suburb is teetering on the edge of an over-saturated rental market. This could potentially present lower returns for property investors in the long-term due to increased competition.

    Its units to houses ratio stands at a high 56%, indicating a market that is somewhat over-saturated with units. This typically implies high competition among landlords for tenants and can potentially lead to a drop in prices if the market cools or if there are regulatory changes. However, this could also point towards a younger, transient population which might be appealing for certain property investors.

    The affordability index in Toorak is a formidable 99 years, far exceeding the typical 31-year indicator for affordable suburbs. This suggests that Toorak residents face a challenging property market when it comes to owning a house. Indeed, the high property prices validate this index.

    Moving onto supply, Toorak demonstrates a favourable picture. With a stock on market percentage standing at a low 0.21% and an inventory level of 0.64 months, these dimensions suggest that supply is low. This could potentially bring about bidding wars and escalate housing prices even further. The building approval ratio for houses likewise mirrors this trend with a low 0.74%.

    On the demand side, Toorak shows promising signs. With an average of 26 days on the market for houses, it indicates a high demand for property in the suburb. Furthermore, the combined vacancy rate for houses and units is below the 3.5% threshold at 1.93%, also signalling a strong demand. The buy search index for houses in Toorak stands at a high 6, suggesting that buyer interest is above the state/city average.

    So whilst some metrics may initially appear unfavourable, it’s worth keeping in mind they may align with particular investment strategies. For a more in-depth and tailored overview, utilising tools like the Relative Composite Score (RCS) developed by HtAG Analytics can provide a comprehensive analysis and save research time.

    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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