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
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
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
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.
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.
Carnelian Property Management Newcastle NSW
We are a family-owned and run Newcastle real estate agent offering expert property management across Newcastle and Lake Macquarie.