Toorak snapshot
- Median price: $1,484,688
- Median weekly rent: $878/wk
- Population: 12,953
- Days on market: 64 days
How Toorak stacks up
- Rental Yield: Moderate
- Capital Growth: Soft
- Vacancy: High
About Toorak
Toorak, located in Victoria, is a suburb with a median property price of approximately $1.48 million. This affluent area is known for its luxurious homes and proximity to Melbourne's city centre, making it an attractive option for high-end renters and buyers alike. With a population of nearly 13,000, Toorak offers a vibrant community atmosphere that appeals to families and professionals.
While the capital growth in Toorak has been classified as soft, the suburb's moderate rental yield highlights its potential for steady rental income. However, investors should be aware of the high rental vacancy rates, which may affect short-term rental strategies. Overall, Toorak presents a unique opportunity for those looking to invest in a prestigious area with a strong community feel.
Frequently asked questions
What is the median property price in Toorak?
The median property price in Toorak is approximately $1,484,688.
How much can I expect to pay for rent in Toorak?
The median weekly rent in Toorak is about $878.
What is the population of Toorak?
Toorak has a population of around 12,953.
How long do properties typically stay on the market in Toorak?
Properties in Toorak typically stay on the market for about 64 days.
What is the rental yield like in Toorak?
The rental yield in Toorak is considered moderate.