There seems to be one word on the tip of every property investor’s tongue: Torquay!
Our proud town, internationally known for its surf culture and the Great Ocean Road, has seen a considerable population growth and property boom to go with it.
So, what is a house worth in Torquay these days? And what can we expect in the near future?
Here, we unpack the median price of a house in Torquay and tell you everything you need to know:
Median home prices in Torquay (As of August 2024)
Right now, the median home prices in Torquay are:
- $1mil for units
- $890k for two-bedroom houses
- $1.1mil for three-bedroom houses
- $1.3mil for four-bedroom houses
Median house prices in Melbourne’s beachside suburbs
If we’re comparing median house prices in Torquay with prices in Melbourne’s beachside suburbs, we can see the real the value you get from property in our town:
- Brighton – $3.1mil
The affluent beachside suburb of Brighton is famous for its coloured bathing boxes. But a slice of the Brighton pie will cost you a pretty penny, with median house prices well over $3mil. - Middle Park – $2.8mil
Up the road is Middle Park, another fancy neighbourhood of Melbourne by the sea. Median home prices are closing in on $3mil. - Hampton – $2.5mil
Hampton, south of Brighton Beach, has a stretch of sand and a marina, but median house prices are sitting around $2.5mil. - Portsea – $2.8mil
Even in the once humble Mornington Peninsula, seaside suburbs are fetching huge amounts of money, with Portsea’s median house price at almost $3mil, and neighbouring Sorrento at $2.15mil.
Will median house prices in Torquay go up?
Nobody has a crystal ball when it comes to real estate, but there are clear factors that indicate when a town or suburb is about to experience a property price boom. These include:
- Population growth
Torquay’s population has grown steadily over the past 20 years, going from 8000 in 2001 to over 18,000 today. Population growth plays a key role in supply and demand, and ensures there’s plenty of people who want to call a place home. - Independent business
That trendy new café or bustling new pub on the corner isn’t just a nice place to grab a bite: it’s also an indicator that house prices will start growing. This is generally a sign of increasing affluence in the area, and Torquay is growing rapidly in this way, with a host of cafes and restaurants popping up in town and on The Esplanade. - Access to good schools and childcare
Families want to give their kids the best education possible. Torquay has a number of great local schools, and it’s also a short drive to Geelong’s best public and private schools. These Geelong schools also have dedicated bus routes.
Want to jump on property in Torquay while you still can? Natural Real Estate has got you covered. We’re Torquay’s award-winning team of agents, helping Australians find the right property for them. Contact our friendly team today.