Located in Victoria within the Surf Coast local government area, Torquay is a well-established suburb (postcode 3228). With a population of 18,534, the suburb has an established family demographic with a median age of 39. Households earn a median income of $119K per year, with an average household size of 2.7 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.1% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 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, managers, technicians & trades. Employment in the area leans toward healthcare and construction. The top ancestries reported are English, Australian, Irish.
Torquay has a median house price of $1.3 million, which has increased by 4.6% year-on-year. Units have a median price of $745,000 (-17.5% YoY). The current median weekly rent is $685. This gives a gross rental yield of approximately 2.8%. The median monthly mortgage repayment is $2,167.
Torquay is served by 5 schools, including 4 primary, 1 secondary. The average ICSEA score is 1095, which is above the national average of 1,000. Public transport access includes 71 bus stops. The crime rate in the Surf Coast LGA is below average at 3,149 incidents per 100,000 population.
Looking at the investment signals, The gross rental yield works out to roughly 2.8%, which reads as low yield. Property prices are above the state median ($1.3M/$875K), placing it in the premium segment. The price-to-income ratio of 10.5x is considered stretched. House prices have moved +4.6% year-on-year. Population growth of +1.1% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.