Online shopping surge breathes new life into mundane commercial property
The online shopping surge born out of the COVID-19 pandemic has breathed new life into a considerably mundane type of commercial property, a...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $347,250.
The upward trend in home prices in TORQUAY, 4655 averaged 2.84% per annum over a 3-year period.
Average weekly rents on listings have reached the $342.5 mark, reflecting a 5.13% increase in returns based on the current median price in TORQUAY.
An average of 8.5 real estate transactions take place per month in TORQUAY which translates to 102 per annum.
102 properties were sold in TORQUAY in 2016, making it the 939th most active market in QLD based on total real estate transactions.
TORQUAY, 4655 places 192nd in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $347,250 | $237,500 |
| GROWTH REPORT | ||
| Median Quarterly | 4.59% | -11.38% |
| Median 12 month | 5.23% | 3.26% |
| Median 3 years | 8.52% | 3.49% |
| Median 5 years | 12.74% | 10.47% |
| 10 years average annual | 0.84% | 0.01% |
| Weekly media advert. rent | $342.5 | $320 |
| Time on Market | 71.2 days | 97.2 days |
| Gross Rental Yield Percent | 5.13% | 7.01% |
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