Investment property in Pennington has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 5.73%
The five-year average increase in median property values for Pennington,5013 has given property investors a potential capital gain of 18.36% across each of those five years.
The most recent median price for Pennington is $396500, with sellers offering an average of -6.11% off the asking price.
Using the current median advertised rental of $330 and the average annual increase in value of a median property of 4.33%, investors should hope to achieve an overall return of 4.33%
State is the 3rd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.27% offered to property buyers. Sellers in Pennington itself are offering an average vendor discount of -9.48% to real estate investors.
Often selling an investment property can take time, and in Pennington the average time real estate has been on the market is 125.72 days.