Thinking about buying in Penrice? Now could not be a better time, with just 317 residential dwellings it's a highly sought after location.
The average property price for this area is $515,000 with prices in this suburb ranging from $108,000 to $875,000.Distance to the coast is 53 Km.
Good balance between supply and demand ensures a range of affordable options within budget limits. Recent increases in listings may provide buying opportunities. In this area of average incomes, there is a mix of housing size and quality. While this may present buying opportunities, growth may be constrained. As buyers begin to examine Penrice due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. The slightly lower than average earnings from occupations in Penrice changes the housing and lifestyle preference. It is more a matter of what can be afforded rather than what would we prefer, leading to slower price increases over time. Medium density in Penrice necessitates a mix of lifestyle options for housing, shops, open areas, and facilties. Where this is available, demand is high and growth ensured. Lower than average industry presence in Penrice we believe will be less of a negative impact than it has in the past. Post-COVID and the growth in working from home has lessened the demand for local employment options. This may make Penrice a better buying opportunity than it may have been in the past.
|Median Weekly Rent||$305.00|
|Median Monthly Mortgage||$1465.00|
|Median Persons Per Bedroom||0.80|
|Average Household Size||2.50|
|Average Cars Per Dwelling||3.08|
|Average Properties Within 50M||2.00|
|121-123 MOCULTA RD, PENRICE, SA, 5353||4||2||6||Under Contract|
None within suburb boundary(While the above schools are located with the suburb of Penrice there may also be nearby schools whose catchments cover this suburb)
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source: Australian Government Bureau of Meteorology
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