Torrens

POSTAL CODE: ACT, 2607

HOUSE

TORRENS ranks 60th in ACT when it comes to estimated capital gains experienced by property investors over the past three years.

The suburb’s capital gain of -7.05% for the past year is lower than average compared to its 32.06% growth within a five-year period.

Also in TORRENS, the median home price is sitting at $1,140,000, and the average rent at $740, this suggests property owners could potentially earn a 3.38% increase in gross rental yield.

Property investors have seen a 1.33% gain in TORRENS based on an increase in median home prices for the past three months.

A survey of average capital gains or median home price increase in suburbs across the country shows that this suburb obtained a 6.38% growth over a ten-year period. It ranks 2412th on our list of suburbs that property investors should look into.

Surburb overview

Torrens lies on the foothills of the Mount Taylor Nature Reserve and is surrounded by the suburbs of Mawson and Farrer. Its namesake, Sir Robert Richard Torrens, was the third Premier of South Australia. The suburb features a retail hub, a primary school, and a community oval.

Torrens is a lovely neighbourhood that exudes a country vibe, thanks to Mount Taylor providing the suburb a beautiful backdrop. Among the suburbs offering access points to its hiking trails, only Torrens has the most expansive panoramic view of the mountain. This explains why bushwalking is a popular pastime in the suburb — who could resist the views from the lookout?

Purchasing a property in Torrens

Torrens is still among the most affordable suburbs in the Woden Valley district, for both property investors and first-home buyers. Buyers who would like to finance their purchase can easily apply for a home loan at banks in the suburb or they can also opt to enlist the help of a number of mortgage and finance advisers.

A huge chunk of dwelling spaces in Torrens are separate or detached homes, accounting for over 80 per cent of the residential structures. Townhouses share a narrow percentage of the dwelling spaces at an estimated 8 per cent, while apartment units or flats account for just 5 per cent. The majority of the private dwellings are three-bedroom homes.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$1,140,000	N/A
Growth Report
Median Quarterly	1.33%	N/A
Median 12 month	-7.05%	N/A
Median 3 years	-5%	N/A
Median 5 years	32.06%	N/A
10 years average annual	6.38%	N/A
Weekly media advert. rent	$740	N/A
Time on Market	N/A	N/A
Gross Rental Yield Percent	3.38%	N/A

Demographics (Median Values)*

Total Population 13614

Weekly Household Income 2084

Household Size 2.50

Average Age 42

Monthly Loan Repayment 2167

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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