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Toronto Property Investment Suburb Profile (Updated 28 March 2019)

28/3/2019

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Are you considering an investment in Toronto, NSW? In this suburb profile we provide an overview of median sale price trends, trend in weekly rental income, and an overview of rental demand.

Data provided is from a variety of sources, including CoreLogic RP Data, the Australian Bureau of Statistics, and RealEstate.com.au. This information is intended as a guide and not financial advice. Please discuss your individual investment goals and circumstances with your accountant and/or financial advisor before taking any action.

Toronto - Location Overview

Toronto is a lakeside suburb in the city of Lake Macquarie in New South Wales, Australia. It is located approximately 28 kilometres from Newcastle's CBD and is the main commercial and transport hub for suburbs on the western side of Lake Macquarie.

Toronto has three public schools: Toronto High School, Toronto Primary School, and Biraban Public School. It also has three private schools: Charlton Christian College, St. Joseph's Primary School and Toronto Adventist Primary School.

Coles, Woolworths and Aldi supermarkets are all located in Toronto, as are many thriving cafes, clothing and boutique stores.

Toronto has a private hospital, polyclinic and healthcare centre, and a Court House which serves the western Lake Macquarie area.

Toronto Median Sale Price Trend

Toronto 3 bedroom houses

As at 28 March 2019, the median sales price for 3 bedroom houses in Toronto, NSW in the last year was $440,000 based on 40 home sales
Compared to the same period five years ago, the median house sales price for 3 bedroom houses increased 39.2%
This equates to a compound annual growth rate of 6.8%.

Toronto 4 bedroom houses

As at 28 March 2019, the median sales price for 4 bedroom houses in Toronto, NSW in the last year was $540,000 based on 18 home sales
Compared to the same period five years ago, the median house sales price for 4 bedroom houses increased 27.8%
This equates to a compound annual growth rate of 5.0%.

Historical trend of median sales growth for units and houses in Toronto is shown in the below chart. Most notable, median sales price for 3 bedroom units has increased dramatically to $750,000, significantly higher than 4 bed houses ($563,000) and 3 bed houses ($442,000).

Toronto Weekly Rental Income Trend

Houses

The median weekly rent for a 4 bedroom home in Toronto is $448pw as at 27 March 2019, based on 20 property listings in the preceding 12 months
The median weekly rent for a 3 bedroom home is $383pw, based on 54 property listings
The median weekly rent for a 2 bedroom home is $335pw, based on 31 property listings

Units

The median weekly rent for a 3 bedroom unit is $395pw, based on 12 property listings
The median weekly rent for a 2 bedroom unit is unable to be calculated as at 27 March due to insufficient data
The median weekly rent for a 1 bedroom unit is $210pw, based on 12 property listings

Historical annual trend of weekly rents for each of these property types is shown in the chart below. Interestingly, median rent for 2 bedroom units has surpassed 2 bedroom houses, and 3 bedroom units has surpassed 3 bedroom houses. This is typically due to the higher quality modern fixtures of recently-built units, against houses which are generally older and many offered in original condition.

Rental Demand in Toronto

Houses

There have been an average 826 visits per listing per month of 4 bedroom rental homes in Toronto (based on realestate.com.au data over the 12 months to 27 March 2019), which is evidence of strong demand
3 bedroom houses have received an average 741 views per month
2 bedroom houses have received an average 630 views per month

Units

3 bedroom units have achieved an average 671 views per month
2 bedroom units have achieved an average 520 views per month
1 bedroom units have achieved an average 658 views per month

In summary, 4 bedroom rental homes remain the most popular, followed by 3 bedroom houses. Interest in 2 bedroom houses and 2 bedroom units is almost identical, and interest in 2 bedroom units significantly greater than 3 bedroom units.

rental demand in toronto - trend for houses

Toronto Investment Property Management

We are highly experienced in managing investment properties in the Toronto and western Lake Macquarie area, including in nearby suburbs such as Carey Bay, Booragul and Teralba.

If you have any questions regarding rental property management and our experience in the Toronto rental market, or you would like a no-obligation rental appraisal of a property in Toronto, contact us at any time.