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Torquay, VIC 3228

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 Torquay, VIC 3228 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 “Torquay, VIC 3228”

  1. The total adult population (15 years or older) of Torquay 3228 VIC is 14,378, with a median age of 39. Of those, 54.29% are married, 9.92% are divorced or separated, 31.96% are single and 3.81% are widowed.

    The average household size is 2.7 people per dwelling, and the median household monthly income is estimated to be $10,508. The median monthly mortgage repayment for households in this suburb is $2,167 which is 20.62% of their earnings.

    Source: ABS Census Data (2021)

  2. The coastal suburb of Torquay, postcode 3228, is nestled within the state of Victoria and comprises an estimated 10,329 households. As we move into Q3 of 2023, houses in Torquay typically command a purchase price of $1,288,972, while the median weekly rent sits at $595. These figures result in an indicative yield of 2.4%, falling just short of the 3% benchmark targeted by investors prioritising cash flow.

    In terms of socio-economic health, Torquay boasts an IRSAD score of 1,091 out of 1,217, signifying a robust socio-economic standing in the population. Compounding this favourable environment, only 21% of dwellings are rented, while a mere 9% are units, suggesting less competition amongst landlords and creating an attractive potential for healthier rental yields and stable long-term tenancies.

    However, it’s worth noting the affordability index presents an estimate of 48 years to fully own a property. This surpasses the typical 30-year mortgage term and could suggest less affordability for potential homeowners. This scenario can influence the long-term growth of the housing market but may open opportunities for property investors if supply and demand factors are favorable.

    Indeed, it appears favourable as the supply remains tightly held, with just 0.27% of the housing stock available on the market. Likewise, with an inventory of just 1.33 months, the market’s capacity to absorb new stock looks strong. Furthermore, the building approvals ratio of 0.5% signifies a slow increase in new houses, again suggesting balancing demand and supply factors that can maintain or push up prices.

    However, an area for caution can be found in the longer average days on market (107 days). This might imply slightly subdued demand. Nevertheless, the vacancy rate of 3.04%, straddling between neutral to low demand, combined with a buy search index score of 4, does hint towards a stable and balanced property environment.

    As with any location, continuous monitoring of the property market landscape, including diverse factors like the RCS (Relative Composite Score) from HtAG Analytics, is vital for making informed investment decisions. Keep in mind, while slightly less favourable metrics like the yield and DOM can be seen here, majority of other metrics, namely supply factors and socio-economic scores, suggest potential resilience in the Torquay property market, hence a comprehensive evaluation is crucial.

    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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