Torrensville (postcode 5031) is a smaller suburb in South Australia within the West Torrens local government area. It is home to about 4,110 residents, with a mix of young professionals and families and a median age of 37. Households earn a median income of $89K per year, with an average household size of 2.4 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.9% year-on-year at the LGA level. SA employment has moved +2.1% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. SA also had 23 Commonwealth-backed major projects under construction, 2 underway, and 11 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, clerical & administrative, managers. Employment in the area leans toward healthcare and retail trade. The top ancestries reported are English, Australian, Greek.
Median house prices in Torrensville stand at $1.6 million, having risen steeply by 49.2% over the last twelve months. The current median weekly rent is $612. This gives a gross rental yield of approximately 2.0%. The median monthly mortgage repayment is $1,863.
Torrensville is served by 2 schools, including 1 primary, 1 secondary. The average ICSEA score is 1025, which is around the national average of 1,000. Public transport access includes 19 bus stops. The crime rate in the West Torrens LGA is higher than average at 8,832 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 2.0% (low yield). Property prices are above the state median ($1.6M/$950K), placing it in the premium segment. The price-to-income ratio of 17.5x is considered stretched. House prices have moved +49.2% year-on-year. Population growth of +0.9% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.