PRD Penrith Market Update 1st Half 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.

Average vendor discounts between Q1 2024and Q1 2025 have widened for both houses and units, at -2.2%and -4.5% respectively. As of Q1 2025,the house and unit markets in Penrith* continue tofavour buyers, as final sale prices are below first listed price. However, with a limited number of houses planned for 2025,there is a high chance that the current discounts will tighten. Thus,buyers must actfast.

The suburb of Penrith has offered a slightly more affordable median house and unit price to the wider Penrith Local Government Area (LGA) in the past 3 years into 2025#. This continued to be the case in early 2025, with the suburb of Penrith experiencing slower growth compared to the LGA.

Most of the homes sold in Penrith* across 2024/25#were in the most affordable price bracket of less than $949,999 (41.7%). Similarly, most of the units sold (29.1%) were also in the most affordable price point, of less than$499,999.This is good news for first home buyers. Thatsaid, the upper and premium priced markets is also holding strong, with 27.6% of houses sold at more than $1.15M and 31.6% of units sold at more than $700K.Overall, there is a home for every budget in Penrith*, and opportunities for buyers and sellers.

MARKET COMPARISON

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 Penrith.

PRICE BREAKDOWN 2024/25#

$500,000 to $599,999 $600,000 to $699,999 $700,000 to $799,999 $800,000 and above

(2750) Unit

RENTAL GROWTH 2025€

House rental yields in Penrith¥ was 3.0%as of March 2025,higher thanSydney Metro (2.7%). Furthermore, median house rental price increased by 6.4%in the past 12months to Q1 2025,at $628per week. At the same the number of houses rented decreased, by -2.3% (to 167houses) in Q1 2025.The unit market shows a similar pattern, with median unit rental price increasing by 5.7% (to $560 per week) and the number of units rented declining by -19.4%. This suggests an undersupplied rental market in Penrith¥, which is beneficial toinvestors.

2-bedroom houses have provided investors with +9.1%rental growth annually, achieving a median rent of $480per week.

Penrith¥ recorded a vacancy rate of 0.6% in March 2025,well below the Penrith LGA average of 1.4% and Sydney Metro’s 1.3%. Vacancy rates have fluctuated slightly in the past 12 months, but overall showed a declining pattern, which indicates an even tighter rental market. Further, a 0.6%vacancy rate is well below the Real Estate Institution of Australia’s healthy benchmark of 3.0%, indicating quicker occupancy of rental homes in Penrith¥ .