Victoria Property Spotlight
Torquay property and home loan guide
Torquay is a surf town on Bass Strait, about 21 km south of Geelong and the start of the Great Ocean Road. It had 18,534 residents at the 2021 Census and the population roughly triples in January and February. Most homes are houses (90.6%) and 51.0% have four or more bedrooms. The median weekly rent was $500. Time Home Loans is based in Brisbane and works with Torquay buyers by phone and video. Coastal valuations, holiday homes and larger loans come up most here.
Information last updated 3 November 2026
Market snapshot
| Houses | Units | Source | |
|---|---|---|---|
| Share of homes | 90.6% separate houses, 8.4% terraces and townhouses | 0.6% flats and apartments | ABS Census 2021 (Torquay (Vic.)) |
In the 2021 Census, 75.7% of Torquay homes were owned outright or with a mortgage and 21.3% were rented. The median weekly rent across all homes was $500 (ABS). Rents by bedroom aren't shown for this area. Sale prices will be added once licensed figures are available.
Figures are a guide only and change over time. Past movements in values and rents don't predict future results.
Living in Torquay
James Follett settled in the area in 1871. The town was known as Spring Creek and then Puebla before the name Torquay was adopted in 1892. The post office opened in 1894 and the Spring Creek bridge linked the town to Anglesea in 1908.
Surfing shaped modern Torquay. The surf life saving club formed in 1946 and Fred Pyke's surfboard shop, opened in 1967, is where Rip Curl and Quiksilver began. The town sits in the Surf Coast Shire and has grown quickly with new estates to the north.
Transport
- Torquay has no train station. The nearest is in Geelong, which has V/Line trains to Melbourne.
- V/Line coaches link Torquay with Geelong and Warrnambool. Extra bus services run in summer.
- Geelong is about 21 km to the north by road.
- In the 2021 Census 0.8% of working residents used public transport to get to work.
- Plan trips on the PTV journey planner.
Schools
Schools in Torquay include Torquay College, Torquay Coast Primary School, St Therese Catholic Primary School and Lisieux Catholic Primary School. Surf Coast Secondary College has had its own campus since 2014.
Government school zones change, so check findmyschool.vic.gov.au for any address before you buy.
Shopping and dining
Surf Coast Plaza is home to Rip Curl and Quiksilver stores and the Australian National Surfing Museum. Larger centres are a short drive away in Geelong and Armstrong Creek.
Parks and recreation
- Torquay Surf Beach, Fishermans Beach, Zeally Bay and Point Impossible are all close by.
- Bells Beach on the south-west edge of town hosts the Rip Curl Pro each Easter.
- Taylor Park and the Spring Creek Play Park are popular with families.
Lifestyle
Torquay suits families, retirees and anyone who wants to live near the surf. Family households made up 77.6% of homes in 2021. Summer is busy with visitors. The rest of the year it's a quieter coastal town with good access to Geelong.
Torquay
Did you know?
Spring Creek, Puebla, then Torquay
The area was first known as Spring Creek and was listed as Puebla in the 1882 Victorian Municipal Directory. The name Torquay was officially adopted in 1892.
Source: Wikipedia: Torquay, Victoria
A shipwreck cargo
In 1891 the ship Joseph H. Scammell struck the reef near Point Danger. Its cargo washed onto Torquay's beach and was looted.
Source: Wikipedia: Torquay, Victoria
Where the surf brands began
Fred Pyke opened a surfboard shop in Torquay in 1967. Rip Curl, Quiksilver and Piping Hot all began there.
Source: Wikipedia: Torquay, Victoria
A contest since 1962
The first contest at Bells Beach was planned for December 1961 and held on 26 January 1962. It has been held every Easter since and is now the Rip Curl Pro.
Source: Wikipedia: Bells Beach, Victoria
Property types
Torquay is almost all houses, from older beach homes near the water to new builds in the northern estates.
- Houses make up 90.6% of homes.
- Townhouses and semi-detached homes make up 8.4%.
- Flats and apartments are rare at 0.6%.
- Size: 51.0% of homes have four or more bedrooms.
Check VicPlan for zoning, coastal and bushfire overlays before you buy. Some homes are holiday houses, which can affect how a property is valued and insured.
What lenders look at in Torquay
Torquay is a coastal house market with strong holiday demand. Here's what tends to come up with lenders.
Holiday homes and short-stay rentals
Some lenders treat short-stay rental income differently from long-term rent or don't count it at all. If you plan to rent the home to holiday visitors, raise it early so the right lender is chosen.
Larger loan amounts
Bigger homes mean bigger loans. Larger loans get closer scrutiny of income, expenses and existing debts and some lenders cap their LVR on them.
Bushfire and coastal overlays
Parts of the Surf Coast carry bushfire or coastal overlays. These can affect building costs and insurance. Get an insurance quote before you sign.
New builds in estates
Building in a new estate means a construction loan that pays out in stages. Lenders need a fixed-price building contract and approved plans.
Postcode 3228
Torquay shares postcode 3228 with Jan Juc and Bellbrae. Postcode 3228 isn't on one LMI provider's lists of excluded or single-industry postcodes.
Lender and LMI policies differ between lenders and change often. This is a general guide based on public lender and LMI information checked 3 November 2026. We can check current policy for the property you're looking at before you apply.
Buying in Torquay
In Torquay the loan size and the type of property shape most purchases. Larger houses mean larger loans. A holiday home or short-stay rental is assessed differently from a home you live in, so tell your broker how you plan to use it.
First home buyers
Torquay has few units, so most first home buyers here are buying or building a house. That often means a larger deposit or help from family. A family guarantee may help some buyers.
Get pre-approval before you look. Victorian duty concessions and grants follow state rules. See our first home buyer page for current details.
Upgraders
Many Torquay buyers are moving from Geelong or Melbourne or upsizing locally. If you're buying before you sell, ask about bridging finance early. If you're building, check how long the build may take.
Deposit and costs
On top of your deposit, allow for:
- stamp duty (transfer duty) under Victoria rules, with concessions for some first home buyers (see the State Revenue Office Victoria)
- conveyancing and legal fees
- building and pest inspections
- lenders mortgage insurance (LMI) if you borrow more than 80% of the property's value
Our calculators give you a starting figure. Stamp duty rules differ between states, so check the Victoria rules for your purchase.
Thinking about buying in Torquay?
Talk it through with a Brisbane broker before you sign a contract. We can check the property you're looking at against lender policy.
Frequently asked questions
What kind of homes are in Torquay?
Mostly houses. In the 2021 Census 90.6% of homes were separate houses and 51.0% had four or more bedrooms.
Is there a train station in Torquay?
No. The nearest train station is in Geelong. V/Line coaches link Torquay with Geelong and Warrnambool.
Can I get a home loan for a holiday house in Torquay?
Yes, but lenders look at how the home will be used. Short-stay rental income may be treated differently from long-term rent, so raise it early.
How do I check bushfire and coastal overlays in Torquay?
Search the address on VicPlan. It shows zoning and planning overlays, including bushfire and coastal controls where they apply.
Can a Brisbane mortgage broker help me buy in Torquay?
Yes. Time Home Loans is based in Brisbane and works with clients across Australia by phone and video. We don't have an office in Torquay. Lender policy is national, so the same lenders and products are available. Stamp duty, first home buyer concessions and grants follow Victorian rules. In most cases there's no broker fee to pay. Time Home Loans is paid by commission from the lender.
What costs should I budget for besides the deposit?
Victorian land transfer duty (often called stamp duty), conveyancing, building and pest inspections and lenders mortgage insurance if you borrow more than 80% of the value. The calculators on our site give you a starting figure.
Nearby suburbs
General information only. This page provides general information and doesn't take into account your objectives, financial situation or needs. Consider whether it's appropriate for you and seek advice before making a decision. Market figures are a guide only and change over time. Past movements in values and rents don't predict future results.
Time Home Loans Pty Ltd ACN 161 695 012, Credit Representative 529395 is authorised under Australian Credit Licence 384324.