Wouldn’t it be nice to go back in time and invest just a few thousand dollars, knowing what you now know? You’d spend $500 on Apple shares, pick up a cottage in Fitzroy for peanuts and score yourself a holiday home in Byron Bay for basically nothing. And today, you’d be filthy rich.
But time travel isn’t possible, so you can’t get caught up in hindsight.
What you can do is focus on foresight, and think about where to invest your money now.
And that’s where Torquay enters the picture. There’s no crystal ball when it comes to property investing, but Torquay has all the ingredients for an excellent investment opportunity.
Here’s why Torquay is a top place to invest in property, outlined by our expert team here at Natural Real Estate:
Torquay has a steadily growing population
Population growth is an essential factor when assessing investment opportunities. It’s one of the greatest predictors of rising real estate prices, as higher demand results in lower supply, driving up prices and causing more homes to be built.
The Surf Coast Shire is the fastest-growing regional area in Victoria, experiencing a 45% population increase between 2011 and 2021. Torquay in particular has grown from 8000 people in 2001 to over 18,000 in 2021.
Beach homes for a million bucks
Beach homes for a million bucks… makes an attractive tagline, doesn’t it? Well, right now, the median house price in Torquay is sitting at $1.2million, and you can still find homes for under a million dollars. Let’s compare that with Portsea on the Mornington Peninsula, where the median house price is a staggering $2.85million. The excellent value of Torquay is undeniable, especially when it’s 15 minutes closer to Melbourne than Portsea (80-minute drive versus 95-minute drive).
Small town feel, big city perks
Unlike other regional towns, Torquay has that charming small town feel with all the big city perks. It doesn’t take over an hour to get to a major city with universities and healthcare facilities; Geelong is just 25 minutes away by car.
Growing number of cafes, restaurants and entertainment venues
Another indicator of a solid investment opportunity is the increasing number of local businesses – especially cafes and restaurants. Not only does this indicate a liveliness to the city, it also suggests an increased affluence in the area.
Tourism makes for versatile investment opportunities
Having more options for investing than simply going for capital gains or high yields is always handy. Thanks to Torquay’s tourism industry, short-term renting is popular for investors here, who can make excellent income from Airbnbing their properties in peak season.
Investing needs to be done with the head – not the heart. Torquay is an excellent place to invest, and the time to buy is now. Get in touch with Natural Real Estate to find your ideal investment property. Our team knows Torquay better than anyone and can help you realise your financial goals, so get in touch with us today.