Penrith property market research - second half 2017

Category: About Penrith

The latest research is out now! 

The Penrith Property Factsheet covers the rental and residential sales market in Penrith and is a must read for an property owner or investor. 

Includes data on sale and rental prices, days on market, vendor discounts and much more. 

Download full report >>>

 

Key findings - residential sales

  • Average prices are still rising - but not as sharply as we have seen over the past few years. The median price for houses is now $695,000 and units is $515,000. 
  • Vendor discounts (the difference between listing price and sale price) have increased to -4% (houses) and -2.5% (units) from lows of -2.5% and -0.9% at the start of this year.
  • Days on market are increasing compared to this time last year at 38 for houses and 42 for units. 

Annual growth is still strong across the Penrith LGA  - 10.3% for units and 6.1% for houses - but the figures above suggests that conditions are more favourable for buyers than they have been recently. Vendors can still expect strong results but choosing a good agent is now very important! 

 

Key findings - residential rentals

  • Median rents have grown by 4.7% for houses and 4.1% for units
  • Days on market remain low at 23 for houses and units
  • The average vacancy rate is 1.9%, below the Sydney average of 2.1%
  • One bedroom units are performing particularly well, offering an average 5.2% return

This suggests continuing high demand for properties and rental yields are sitting at 3.4% for houses and 3.9% for units. 

 

if you want to know more about the market - or for specific information about your property - our real estate agents and property managers would be happy to help. Please feel free to give us a call on 02 4732 3711.


Posted on Thursday, 14 December 2017 by Sophie Armond

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