At number 2455th in the list of Australian suburbs ordered by increase in median house value over the last year, Penrith, 2750 is in the BOTTOM 40% with a property value increase of 0.78% recorded in median house prices.
Over the longer term, Penrith has seen property prices show investors a -12.22% return over the last 3 years. This is an improvement over the last 12 months
Our latest figures would indicate that property sellers in Penrith are currently offering property investors an average price cut of -4.31% below the asking price at the moment.
A $395 per week rent on the median house gives suburb investors a gross yield of circa 3.16%, without taking into account capital value appreciation, which has been averaging out at 7.63%.
Investment property in Penrith 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 0.21%
While Penrith,2750 ranked number 305th in NSW for increase in median house value (annualised) increase, it is ranked 243th over the last 5 years.
Property investors looking for a bargain in Penrith should be aiming for at least -4.01% off the asking price, which is the average vendor discount being achieved at the moment.
Often selling an investment property can take time, and in Penrith the average time real estate has been on the market is 80.7404 days.
With the median price for a house in Penrith being $480000 and the advertised rent reaching $390 the gross rental yield for property investors calculates out to be 4.23%