Town by town snapshot
Town Profile: Torquay
The size of Torquay is approximately 34.5 square kilometres excluding Jan Juc with the population recorded at 10,141 in 2011 and by the 2016 Census the population was 13,268 showing a population growth of 30.8 per cent in the area during that time.
Significant growth since the last Census has pushed the population towards 17,000.
Richard Zeally was one of several farm settlers around Torquay in the 1840s to 1860s, at that time known as Spring Creek.
In 1880 town lots at Spring Creek were put up for sale and in 1888 a coffee palace was opened for visitors and holiday makers.
The next year a town improvement association was formed and in 1892 Spring Creek was named Torquay after the popular seaside town in Devon, England.
By the early 1920s Torquay had three stores, the Palace hotel (former coffee palace), Follett’s boarding house and a golf links.
James Follett, who had built the coffee palace, also pioneered Torquay’s tourist trade with a wagonette service from Geelong and a bathing house on the beach and in 1945 the Torquay Surf Life Saving Club was formed.
Torquay’s population went from 1,100 in 1961 to 2,900 in 1981 and 4,900 in 1991.
CoreLogic data indicates that the predominant age group in Torquay is 0-9 years with households in Torquay being primarily couples with children and are likely to be repaying $1,800 – $2,399 per month on mortgage repayments, and in general, people in Torquay work in a professional occupation.
In 2011, 72 per cent of the homes in Torquay were owner-occupied compared with 73.4 per cent in 2016.
Median age: 39
5 year population change: 30.8%
Median house price: $807,750
Change in Median Price: (5yrs) is 38.9%
Median asking rent per week: $530
Average length of ownership: 10
Owner occupiers: 76%
Historic median house price:
July 2019: $807,750
July 2018: $795,000
July 2017: $716,000
July 2016: $649,000
July 2015: $580,000
House sales per annum:
Period ending July 2019: 223
Period ending July 2018: 267
Land median sale price:
July 2019: $401,000
July 2018: $370,000
Land sales per annum:
Period ending July 2019: 47
Period ending July 2018: 57