Get a property report and suburb profile for any property in Torquay

Torquay sits on the Surf Coast as the gateway to the Great Ocean Road and is a centre of surf culture. Its sheltered main beach is popular with families while the world-famous breaks at Bells Beach draw surfers throughout the year. The compact town centre has cafes, surf shops and everyday retail, and nearby walking and cycling trails, surf schools and foreshore reserves shape an outdoor lifestyle. The Surf Coast Highway provides easy links to Geelong and the wider region.

With a population of 18,534 and a median age of 39, Torquay is a suburb of families: couple families with children make up 49.7% and together with couple families without children (38.9%) they form 88.6% of families. Homes are mostly owner-occupied, a combined 78.0%, with 22.0% rented. Several public projects are under way, including the Wurdi Baierr Aquatic and Recreation Centre, a new Torquay library and a refurbishment of the Australian National Surfing Museum, plus foreshore and trail works, sports facilities and an investigation into a cycling corridor to Geelong. Whether Torquay suits you will depend on how much you value coastal living and outdoor amenities.

At a median house price of $1,180,000, buying a house in Torquay works out to about 9.9 times a typical local household's annual income as recorded at the last Census. Against a local household income of $2,295 a week at the last Census, the average house rent of $730 a week would take about 31.8% of that weekly income, while the average unit rent of $500 a week would take about 21.8%.

On these figures, buying sits well above what people locally earned at the last Census, while renting a house would take a sizeable share of a typical local household's income and renting a unit would take a moderate share. Whether that feels expensive depends on your own income and circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

A clear split shows up in Torquay over the past year. Unit values fell 8.2% while house values rose a modest 2.0%. On the income side, house rents climbed a solid 7.4% and unit rents edged up only 0.4%.

Put simply, the year to date has delivered modest capital growth for houses and a decline for units, while houses produced noticeably stronger rental growth than units. If rental income is your priority, the house side was the stronger performer this year. Whether that pattern suits your goals and circumstances is for you to weigh up.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.