Panania Market Update 1st Half 2025
In Q1 2025,Panania* recorded a median house price of $1,530,000 and a median unit price of $1,122,000.This represents an annual (Q1 2024– Q1 2025)price growth of 8.9%for houses and 14.9% for units. Comparing Q1 2024and Q1 2025,total sales declined by -6.0% for houses (to 187sales in Q1 2025)but increased by 27.3%(to 42sales in Q1 2025) for units. There is an undersupply of houses and units are highly demanded in Panania*, which created a buffer against higher interest rates – thus more price growth. Now is an ideal time for owners to capitalise on their investments particularly in the unit's market. Unit price growth is currently higher than houses, due to low house stock and buyers shifting their search tounits.
FROM LAST
Panania£ plans tosee approximately $377.4Mofnewprojectscommencing constructionin2025.
MEDIAN PRICE
RENTAL PRICE
There are several residential & mixeduse projects in Panania* that are set to commence construction in 2025, including (but not limited to):
• 4 Doyle Road (31 Apartments)
• Riverlands Site (350Residential Lots)
• 5 – 7 Hydrae Street (6 Dwellings)
• 8 Bell Street (5 Townhouses)
MEDIAN PRICE Q1 2025 MEDIAN PRICE Q1 2025
AVERAGE DAYS ON MARKET Q1 2025
51 $1.5M $1.1M
There are several ready-to-go housing stock planned, which will assist with current demand. That said, comparing the number of new houses planned (23) and sales in Q1 2025(187), this is not enough. The current undersupply will continue to push prices up, not only for houses but also other stock types. Thus,buyers must act fast 67
AVERAGE DAYS ON MARKET Q1 2025
AVERAGE VENDOR DISCOUNT*
Average vendor discount reflects the average percentage difference between the first list price and final sold price. A lower percentage difference (closer to 0.0%) suggests that buyers are willing to purchase close to the first asking price of a property.
$2,000,000
$1,000,000 $1,500,000
$0 $500,000
Average vendor discounts between Q1 2024and Q1 2025 have remained at a premium for houses, but lower at 4.1%. For units it has swung significantly to a discount of -2.1%. As of Q1 2025,the house market in Panania* remains in favour of the seller, as final sale prices is still above first list price. Conversely, the unit market now favour buyers, below the first listed price; in good news for first home buyers.
The suburb of Panania has historically been on par with Canterbury-Bankstown Local Government Area (LGA) for houses. This trend has continued in 2025#.Units trended as a muchmore premium market in the past 5 years, with a significant price growth in the suburb of Panania; making a much more premium option. Furthermore, the price gap between houses and units in the suburb is closing.
Most of the homes sold in Panania* in 2024/25#were in the more affordable price bracket of $1,300,001to $1,500,000 (29.6%). However, the most affordable bracket of less than $1,300,000also showed strong sales, of 21.2%, in good news for buyers. Further, units saw most sales in the affordable price bracket ofless than $999,999(52.7%). Overall, there are key opportunities forfirst home buyers in Panania*
MARKET COMPARISON
Panania House
Canterbury-Bankstown LGA House Panania Unit
Canterbury-Bankstown LGA Unit
The market comparison graph provides a comparative trend for median price of houses and units over the past 5 years. The main LGA chosen was based on their proximity to the main suburb analysed, which is Panania.
Less than$999,999 $1,000,000to$1,099,999
$1,100,000 to $1,199,999 $1,200,000 to $1,299,999
$1,300,000 and above
RENTAL GROWTH 2025€
House rental yields in Panania¥ was 3.2%as of March 2025,higher thanSydney Metro (2.7%). Furthermore, median house rental price increased by 11.3%in the past 12months toQ1 2025,at $835per week. At the same time, the number of houses rented decreased, by -2.3% (to 42 houses) in Q1 2025.The unit market shows a similar pattern, with the median unit rental price increasing by 4.7% (to $890per week) and the number of units rented declined by -4.9%. This suggests an undersupplied and highly demanded rental market, in good news for investors.
3-bedroom houses have provided investors with +10.3%rental growth annually, achieving a median rent of $750per week.
Panania¥ recorded a vacancy rate of 1.2% in March 2025,on par to the Canterbury-Bankstown LGA average of 1.2%and Sydney Metro’s 1.3%. Vacancy rates have fluctuated in the past 12 months, but overall showed an increasing pattern, due to anincreasing number of investors returning tomarket However, a 12% vacancy rate is well below the Real Estate Institution of Australia’s healthy benchmark of 3.0%, thus quicker occupancy of rental homes in Panania¥ .
RENTAL VACANCY RATES 2025
RENTAL YIELD 2025§
PROJECT DEVELOPMENT MAP 2025 ₳
PANANIA
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REFERENCES
*Panania sales market data and key indicators encapsulates aggregate property market conditions within the suburbs of Panania, East Hills, Padstow, Picnic Point, Revesby and Milperra.
** Estimated values are based on construction value provided by the relevant data authority and does not reflect commercial and/or re-sale value.
# 2025 encapsulates sales transactions for Q1 (01/01/2025 – 31/03/2025) only, other years encapsulates sales transactions for the full year (i.e 01/01 to 31/12 of the relevant year).
€ Annual rental growth is a comparison between Q1 2024 (01/01/2024 – 31/03/2024) and Q1 2025 (01/01/2025 – 31/03/2025) house median rent figures.
¥ Panania rental market data encapsulates aggregate property conditions within the postcode of 2213.
§ Rental yields shown are as reported as of March 2025.
₳ Project development map showcases a sample of upcoming projects only, due to accuracy of addresses provided by the data provider for geocoding purposes.
£ Projects refers to the top developments within the suburbs of Panania, East Hills, Padstow, Picnic Point, Revesby and Milperra.
µ Estimated value is the value of construction costs provided by relevant data authority; it does not reflect the project’s sale/commercial value.
ψ Commencement date quoted for each project is an approximate only, as provided by the relevant data authority, PRD does not hold any liability to the exact date.
Source: APM Pricefinder, Cordell Connect database, SQM Research, Esri ArcGIS.
Disclaimer: PRD does not give any warranty in relation to the accuracy of the information contained in this report. If you intend to rely upon the information contained herein, you must take note that the information, figures and projections have been provided by various sources and have not been verified by us. We have no belief one way or the other in relation to the accuracy of such information, figures and projections. PRD will not be liable for any loss or damage resulting from any statement, figure, calculation or any other information that you rely upon that is contained in the material.
Prepared by PRD Research. © All medians and volumes are calculated by PRD Research. Use with written permission only. All other responsibilities disclaimed. © Copyright PRD 2025.
