Toorak

Toorak, VIC 3142, is an affluent suburb with a population of 12,817 residents. A significant proportion of residents are aged 45 years and over. The suburb offers a high level of educational advantage to students, with an ICSEA percentile of 92.0 for government schools. The commute to work mainly involves using motor vehicles, with a growing trend towards working from home. For house investors, Toorak presents an opportunity for high-end renovations due to the wide range in property prices and the high sale price IQR ratio. On the other hand, unit investors may find the suburb appealing for its above-average rental yields and consistent median growth rates. Both house and unit markets exhibit stable vacancy rates and healthy market absorption rates. Toorak, VIC 3142, is a prestigious suburb well-suited for high-income professionals and families seeking a quality lifestyle. Investors can capitalise on the suburb's strong rental yields and potential for renovating properties, making it an attractive choice for property development and long-term capital growth. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022