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 -4.47%
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.
Sellers are offering property buyers an average discount of -4.91% to buyers in West Pennant Hills at the moment, which is less than average for the rest of NSW.
Residents and property investors in West Pennant Hills have been waiting around 68.4 days to sell a property.
Using the current median advertised rental of $730 and the average annual increase in value of a median property of 7.79%, investors should hope to achieve an overall return of 2.45%
Over the last year, property investments in West Pennant Hills, 2125 have given investors a capital gain of 3.47%. This compares favourably with the -0.92% for NSW as a whole.
West Pennant Hills,2125 has offered an average of 3.47% return per annum in house price rises to property investors over the last three years.
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.