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toorak
3142, Victoria
Real Estate & Property Information
Median
Price Rank 1
Price Rank 1
toorak Suburb Profile & Review
Long thought of as the most prestigious postcode in Melbourne, if not Australia, Toorak is synonymous with the wealthy and elite. Toorak Village on Toorak Road is home to many high-end boutiques and restaurants, while Hawksburn Village on Malvern Road is slightly more low-key, where food, fashion, gift and homeware stores go hand in hand.
Toorak boasts some of the best schools in Melbourne, such as St Kevin's, Loreto Mandeville Hall and St Catherine's. The prestigious Scotch College is just across the Yarra River in neighbouring Hawthorn. Royal South Yarra Lawn Tennis Club and the Kooyong Lawn Tennis Club are both situated in Toorak.
A mere 6km from the CBD, Toorak has only Heyington Station within its boundaries; however, Kooyong Station, Toorak Station and Hawksburn Station are all situated along the suburb's borders. The route 72 and route 8 tram lines service the area. There is access to CityLink and the South-Eastern freeway from Toorak Road and also via the MacRobertson Bridge to the Burnley interchange.
Invest/Buy/Sell Checklist
Research
- 7 Tips On How To Buy/Sell
- Property/Suburb Report
- Buyer/Vendor Advocacy
- Finance Strategy & Lending
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7 Tips On How To Buy/Sell Enquiry
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Property/Suburb Report Enquiry
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Buyer/Vendor Advocacy Enquiry
Receive Independent Advice about Buying or Selling Our qualified buyer and vendor advocates can help you build your property portfolio with quality capital growth properties or conversely help you sell your property. Their thorough processes are designed to suit your specific needs, and their independent advice can take the stress out of the buying and selling process.
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Finance Strategy & Lending Enquiry
Hone Your Financial Knowledge by Speaking to a Finance Broker
Obtain personalised service you can’t find at a bank. Educate yourself about the financial issues involved with buying and selling a property by speaking to a qualified finance broker. They will advise you regarding the best finance options available to you. They can also discuss methods to create wealth and improve your cash-flow.
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Due Diligence
- Ownership Structure
- Property Valuation
- Rental Appraisal
- Sale Contract Review
- Building & Pest Inspection
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Ownership Structure Enquiry
Are you financially structured the right way to invest in property?
Talk to a professional who is able to sit down with you and assess your goals and structure your finances in a way that will help you invest in property for the long-term.
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Property Valuation Enquiry
Have you bought your first investment property and don’t know where to start when it comes to management or just looking for a change? Find a property manager that specialises in customer service, communication, minimal rental arrears, routine inspections and quality tenants.
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Rental Appraisal Enquiry
Have you bought your first investment property and don’t know where to start when it comes to management - or are you just looking for a change? Find a property manager that specialises in customer service, communication, minimal rental arrears, routine inspections and quality tenants.
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Sale Contract Review Enquiry
Check your Contracts Before Making an Offer
If you are serious about purchasing or selling a property with the least hassle then you should engage the services of a reputable conveyancer or lawyer who specialises in property. Have your contracts looked over before buying your next dwelling, for any possible concerns like easements, titles and any caveats, body corporate rules, zoning and planning potential issues.
What is Conveyancing?
Conveyancing is the term used to describe the way that a title, rights or interest in land is legally transferred from one person to another.
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Building & Pest Inspection Enquiry
Understand the Condition of Your Property Before You Buy
Avoid any nasty surprises before purchasing your property. Request a building and pest inspection report. This report will tell you everything you need to know about the condition of the property, including interior and exterior defects, termite activity and the presence of environmental dangers such as asbestos.
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Post Purchase
- Landlords Insurance
- Depreciation Schedule
- 1. Capital works allowance (Division 43) Takes into account the construction costs of the building itself, such as concrete and brickwork
- 2. Plant and equipment (Division 40) A deduction available for removable assets identified by the ATO that depreciate at a faster rate than the building eg carpet, dishwasher, blinds, ovens.
- Removalist
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Landlords Insurance Enquiry
Get Peace of Mind with Quality Landlord Insurance Protection?
Buying an investment property for the first time? Concerned about tenants damaging your property, rental loss or losing your job and being unable to pay your mortgage?
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Depreciation Schedule Enquiry
What is a Depreciation Schedule?
A depreciation schedule of your investment prepared by a Quantity Surveyor for the purpose of claiming against your taxable income. There are two main elements taken into account when preparing this report.
Tax Depreciation Calculator
Get an estimate of the likely depreciation deductions using the following Tax Depreciation Calculator
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Removalist Enquiry
Find the Best Removalist for the Job
Take the stress out of relocating by getting in touch with an efficient and qualified removalist team. Professional removalists can help you with packing, loading and unloading during your local or interstate move.
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Adding value
- Planning & Permits
- Trades
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Planning & Permits Enquiry
Find Out Whether Your Property Has Development Potential
Would you like to find out whether your property is subdividable and if you can increase the value of your property by obtaining plans and permits? Or you are looking to extend or renovate your new purchase and need plans and permits?
Our property development experts review whether your property is suitable for development. They carry out the due diligence on the development potential of your property, look at the options available to you (fully costed and assessed), discuss a development strategy, prepare plans to submit to a town planner and local council, and work through applications to achieve town planning approval.
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Trades Enquiry
Find a Qualified Local Tradesperson
Finding a qualified and reputable local tradesperson can be a hassle, whether you’re looking for an electrician, carpenter, plumber, builder, handyman, gardener or carpet cleaner. Be connected with the right tradesperson today.
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toorak Demographic Data
$ 2,600,000 Median House Price
13 Minutes Average Commute
43 Median Age
12,871 Population
52.95 % Female
47.05 % Male
What this means
The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in toorak, Victoria.
Learn more about data
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toorak Demographic Data
The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.
It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.
What this means
Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.
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toorak 5 Year Median House Prices
Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in toorak have performed, and it usually indicates how they will perform in the future.
Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term toorak property price predictions.
toorak Market Property Types
- 35 % Seperate House
- 16 % Semi Detached
- 49 % Flat or Unit
- 0 % Other Dwelling
What this means
The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.
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toorak Market Property Types
Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.
This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.
toorak Income & Mortgage Stats
- $ 1,977 Median Weekly Household Income
- $ 2,700 Median Monthly Mortgage
What this means
This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in toorak
Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.
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toorak Income & Mortgage Stats
To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%
Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.
toorak Sold Property Prices
46 WASHINGTON STREET
69 GRANGE RD
639 TOORAK ROAD
4/708 Orrong Road
3/51 Bruce Street
5C/587 Toorak Road
toorak Real Estate Experts
In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.
toorak Related Local Blog Posts
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toorak Restaurants
- Zanuba Bar & Restraurant6/521 Toorak Roadtoorak VIC 314203 9827 1299
- Soto517 Malvern Roadtoorak VIC 314203 9826 8815
- Romeo's of Toorak450 Toorak Roadtoorak VIC 314203 9827 2316
toorak Cafes
- Fresh Food BarVillage Walktoorak VIC 314203 9826 1758
- Gossip Cafe Restaurant10/501 Toorak Roadtoorak VIC 314203 9826 1059
- 475 Tango475 Toorak Roadtoorak VIC 314203 9827 2777
toorak Schools
- Loreto Mandeville Hall10 Mandeville Crescenttoorak VIC 3142(03) 9823 8100Private School
- St. Kevins College Heyington CampusMoonga Roadtoorak VIC 3142(03) 9822 0911Catholic Secondary School
- St. Kevins Junior Glendalough Campus75 Lansell Roadtoorak VIC 3142(03) 9827 9808Catholic Secondary School
toorak Childcare
- St. Peters Early Learning Centre581 Toorak Roadtoorak VIC 3142
toorak Kindergarten and Preschools
- Brookville Kindergarten53 Canterbury Roadtoorak VIC 3142
- Geelong Grammar-Glamorgan14 Douglas Streettoorak VIC 3142
- John Mackenzie Kindergarten603 Toorak Roadtoorak VIC 3142
toorak Sporting Centres and Clubs
- Tooraktoorak VIC 3142Bowling Club
- Royal South Yarra Lawn T. Clubtoorak VIC 3142Tennis Club & Courts
- Royal Lawn T.Ctoorak VIC 3142Tennis Club & Courts
toorak Retirement Villages
- Toorak Placetoorak VIC 3142
Find out How Much your House is Worth in toorak
Request a free market Basic Report for toorak to get a general idea of property prices in your area, or a more specific CMA Report for the property you own.
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