At number 3701th in the list of Australian suburbs ordered by increase in median house value over the last year, West Pennant Hills, 2125 is in the BOTTOM 10% with a property value increase of -13.68% recorded in median house prices.
Taking the average capital gain, or increase in median house value, West Pennant Hills,2125 has racked up an average of -13.68% over the period. This ranks it number 3470th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in West Pennant Hills are currently offering property investors an average price cut of -7.68% below the asking price at the moment.
In the last year 156 properties changed hands in West Pennant Hills, which puts it as the 75th most active market in NSW when comparing the number of sales per suburb.
Property investors should expect to get $750 weekly from the median priced house in this suburb.
Investment property in West Pennant Hills has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -9.49%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in West Pennant Hills has increased when compared to the 5 year average annual rate.
Information supplied by:
Supply rises and correction begins
Median house price: $1,627,500
Stock on market: 16.7%
12-month growth: -3.6%
A suburb of the Hills District, West Pennant Hills was named for the hills it stood on, as well for the flag pole established at the area’s peak to serve as a medium of communication in the early days of Sydney’s establishment.
The suburb’s commercial scene emanates from Thompsons Corner. West Pennant Hills Public School, the local government-run primary school, is also located here. West Pennant Hills’s shopping centre can be found near Castle Hill Road, and commuters can choose to take the buses that run through the suburb or head to nearby train stations like Beecroft and Pennant Hills.
West Pennant Hills is one of the most expensive suburbs in NSW. While the average annual growth rate remains high at 8.2%, correction is beginning in this area as the number of houses increase.