Property value increases in Penola have tracked higher than the SA average of 10.08% over the last 12 months.
Taking the average capital gain, or increase in median house value, Penola,5277 has racked up an average of 19.48% over the period. This ranks it number 3529th in the whole country for real estate investors looking at median house price increases.
Vendor discounting in Penola is giving property investors an average Vendor Discount of around -4.52%. This puts suburb at number 99th in SA when ranking the most discounted suburbs.
At number 3726 in a list of fastest selling suburbs, Penola is in the bottom 10% of suburbs in Australia with an average of days on market 114.826 for properties listed there.
Information supplied by:
Supply remains steady
Median house price: $166,500
Stock on market: 1.7%
12-month growth: -14.6%
Located in the heart of historical site and an excellent food and wine scene, the suburb of Penola is the perfect place to sit back and relax.
The suburb is home to many cafes and restaurants that serve the many tourists in the area. Galleries line the streets for those who enjoy a good dose of culture, and the Heritage Walk brings one around the heritage-listed architectures in town. The Mary MacKillop Interpretive Centre is located here, along with the original 1800s stone schoolhouse established by Saint Mary MacKillop. Many vineyards and wineries are a short drive away.
On the whole, the housing supply needle moved very little in the 12 months to March 2019. Meanwhile, house prices nosedived by 14.6% from January 2018-2019, bringing the median down to $166,500. However, there was some recovery in the January 2019 quarter.