The size of Torquay is approximately 34.5 square kilometres and has 3 parks covering nearly 1% of total area.
The population of Torquay (excluding Jan Juc) in 2011 was 10,141 people and by the 2016 Census the population was 13,268 showing a population growth of 30.8% in the area during that time.
Such is the red hot interest in Torquay real estate, the recorded data is somewhat lagging, as such, the population of Torquay is punching closer to 20,000 with Jan Juc most likely touching on 4,000.
This permanent population growth is due to substantial land sales in Torquay North, the transition of holidays home to permanent residences and retirees’ homes being bought by young families.
Some parts of the community are pushing back on growth in the area and in a political manoeuvre, the Victorian Government implemented the Surf Coast Distinctive Area and Landscape project led by The Department of Environment, Land, Water and Planning (DELWP), with an aim to curtail development in Torquay
This piece of strategic work is now at the pointy end with feedback now being sought on two options, one of which excludes residential development west of Duffields Road.
This process, and the outcome, is sure to generate some argy-bargy as it was previous governments and planning authorities that directed developers into areas like Spring Creek through long embraced policy direction and then backed it in in 2010 by shifting of the town boundary to one kilometer west of Duffields Road.
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% of the homes in Torquay were owner-occupied compared with 73.4% in 2016. Currently the median sales price of houses in the area is $840,000.
TIDBIT: There have been 542 recorded land sales in Torquay over the past 5 years
Median age: 39
5 year population change: 30.8%
Median house price: $840,000
Change in Median Price: (5yrs) is 44.8%
Median asking rent per week: $520
Average length of ownership: 10 years
Owner occupiers: 76%
Historic median house price:
August 2020: $840,000
August 2019: $801,750
August 2018: $807,500
August 2017: $710,000
August 2016: $650,000
House sales per annum:
Period ending August 2020: 255
Period ending August 2019: 224
Land median sale price:
August 2020: $455,000
August 2019: $402,000
Land sales per annum:
Period ending August 2020: 67