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Tooradin, VIC 3980

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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 Tooradin, VIC 3980 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 

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Rent 

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Yield 

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Buy 

1BR

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Rent 

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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 “Tooradin, VIC 3980”

  1. The total adult population (15 years or older) of Tooradin 3980 VIC is 1,353, with a median age of 40. Of those, 51.29% are married, 11.97% are divorced or separated, 32.52% are single and 3.77% are widowed.

    The average household size is 2.9 people per dwelling, and the median household monthly income is estimated to be $8,704. The median monthly mortgage repayment for households in this suburb is $2,000 which is 22.98% of their earnings.

    Source: ABS Census Data (2021)

  2. The charming suburb of Tooradin, with the postal code 3980, is nestled within the state of Victoria and home to approximately 825 households. As we delve into the third quarter of 2023, the usual price tag on houses within Tooradin sits at $896,787. With a median weekly rent hovering at $575, this produces an attractive indicative yield of 3.34%—satisfying the minimum market requirements for property investors seeking favourable cash flow.

    When weighing the socio-economic factors, Tooradin scores 983 out of a possible 1217 on the Index of Relative Socio-Economic Advantage and Disadvantage (IRSAD). This impressive score suggests a healthy socio-economic status for the area, indicating the presence of economically prosperous households, a highly skilled workforce, and access to a variety of resources.

    In terms of investment appeal, Tooradin presents a favourable landscape. The renter to owner ratio is at a low 14%, meaning the market is not oversaturated with rental properties, and the competition among property investors is minimal. Furthermore, the units to houses ratio sits at zero, implying that the market is predominantly led by houses that attract more families and typically guarantee longer tenancy periods.

    However, the suburb’s affordability index raises some concern with 40 years required to fully own a property—surpassing the standard 30-year mortgage benchmark and indicating somewhat decreased local affordability.

    When it comes to market supply, Tooradin offers a promising scene. The stock on market Percentage is at a low 0.36%, indicating a favourable and tight market. Additionally, the inventory level is at 2.0 months, implying a well-absorbed market favourable for sellers. The building approvals Ratio is at a fairly neutral 1.09%, pointing to a steady flow of new property onto the market.

    The demand scenario, however, presents a mixed bag. Houses stay on the market for an average of 92 days—a comparatively extended period, suggesting lower demand. The Vacancy Rate, including both houses and units, is at a steady 2.68%, indicating a healthy balance between demand and supply. Lastly, the buy search index for houses—at 3, falls within the range associated with a neutral demand.

    Overall, Tooradin’s property market would benefit from further careful monitoring and analysis to pinpoint optimal investment opportunities. To streamline this process, consider using tools like the RCS (Relative Composite Score) developed by HtAG Analytics, which consolidates research by assess over 80 metrics to provide a comprehensive understanding of any given property market.

    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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