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Torrens suburb profile

Torrens is a picturesque suburb located in the Woden Valley district of Canberra, ACT. Known for its tranquil environment and leafy streets, Torrens offers a peaceful residential setting with a strong sense of community. The suburb is conveniently situated near the Mount Taylor Nature Reserve, providing residents with ample opportunities for outdoor activities and scenic views. Torrens features a mix of established homes and modern developments, catering to a diverse range of residents. With its proximity to local schools, shops, and public transport, Torrens is an appealing choice for families and professionals seeking a balanced lifestyle.

Torrens property market performance

Property growth-0.5%Past 12 months

Torrens has experienced modest growth in the property market over the past 12 months. The median house price increased by 2.7%, bringing it to $1.11 million, while there has been no activity or change in the unit market.

In terms of sales, 13 houses were sold in the past 12 months, with houses taking an average of 71 days on the market recently, indicating a slower sales cycle. The unit market saw no transactions, reflecting its dormancy.

Rental prices for houses remain unchanged at an average of $700 per month over the past year, with no change observed in the unit rental market, further highlighting the absence of unit activity.

HousesUnits
Median price
Past 3 months
$1.02MN/A
Change in value
Past 12 months
2.7%N/A
Sold
Past 3 months
101
Median days on market
Past 12 months
71N/A
Average rent
Past 12 months
$700N/A
Change in rent
Past 12 months
N/AN/A

5 year median price trend for houses and units

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Torrens demographics

Torrens, a suburb located in the Australian Capital Territory, offers a serene and family-friendly environment with a population of 2,424 residents. The suburb is characterized by its mature demographic, with a median age of 39, indicating a community of established families and professionals. Torrens is well-regarded for its peaceful residential streets and proximity to nature reserves, making it an attractive location for those seeking a balanced lifestyle.

The suburb's household composition is predominantly made up of couple families with children, accounting for 51.5% of the population, which underscores its appeal to families. Additionally, 34.2% of households are couple families without children, reflecting a mix of young couples and empty nesters. The presence of one-parent families at 12.8% adds to the suburb's diverse family structures.

In terms of property ownership, Torrens exhibits a strong sense of stability, with 35.9% of properties owned outright and 38.7% owned with a mortgage. This indicates a community with a significant number of long-term residents and homeowners. The rental market, comprising 25.4% of properties, provides options for those seeking temporary accommodation or flexibility. With a median total household income of $2,612 weekly, Torrens is a suburb that offers both comfort and convenience, making it a desirable place to live for families and professionals alike.

Suburbs near Torrens

Some popular suburbs near Torrens include:

  • Mawson: Known for its diverse shopping options and community facilities, Mawson is located directly north of Torrens.
  • Pearce: Featuring a mix of residential areas and green spaces, Pearce is situated to the northwest of Torrens.
  • Farrer: Known for its quiet residential streets and proximity to nature reserves, Farrer lies to the east of Torrens.
  • Isaacs: Offering scenic views and a peaceful environment, Isaacs is located to the southeast of Torrens.
  • Chifley: Known for its family-friendly atmosphere and local amenities, Chifley is situated to the west of Torrens.

How does Torrens compare to nearby suburbs?

  • Median house prices: Torrens’s median house price is 7.5% lower than Mawson’s.
  • House price growth: Over the past 12 months, house prices in Torrens have grown 5.1% higher than in Mawson.
  • Unit price growth: Over the past 12 months, unit prices in Torrens have grown 25.8% higher than in Mawson.
  • Selling speed for houses: Properties in nearby Mawson are selling 21.1% faster than in Torrens.
  • Investment considerations: In Torrens, the rental yield for house is 2.5% lower than the Canberra average, while the rental yield for units is 9.4% lower.
  • House price growth: Over the past 12 months, house prices in Torrens have grown 11.4% higher than the average rate of growth across Canberra.
  • Unit price growth:Over the past 12 months, unit prices in Torrens have grown 32.1% higher than the average rate of growth for units across Canberra.

Choose the right real estate agents in Torrens

Choosing the right real estate agent in Torrens can have a big impact on your sale. While there are 28 real estate agents working in the suburb, but just 5 of them were responsible for 30.8% of all property sales over the past year, showing a strong footprint and track record in the area.

Commission rates typically range from 2.06% to 2.65%, depending on the agent and what’s included. Comparing both performance and fee structures can help you find someone who's well-suited to your needs, and set them up for a successful result.

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