Penrith City CouncilEconomic profile
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Penrith City

Housing valuation

At June 2016, Penrith City had a median house valuation of $617,748, $19,785 lower than the median house valuation for New South Wales.

Housing valuation and rental data are a measure of the economic desirability of living in the local area. High housing prices usually indicate access to high-paid jobs and a very desirable area. However they can present issues in attracting and retaining key lower skilled workers. Lower housing prices indicate less demand and may be an asset for attracting people to live in the area. However they can also indicate lower paid and lower skilled jobs or a declining economy.

Housing prices often factor in a home ownership premium due to expected capital growth and the ability to customise the property, but rental costs are a more direct measure of the immediate economic value of living in the area. Increases in rents often have a more direct relationship to employment and demand for housing.

Hometrack 2011-2016, Housing Valuation System

Housing values
Penrith City20162013Change
Housing value (at June)Penrith CityNew South WalesPenrith City relative to New South WalesPenrith CityNew South WalesPenrith City relative to New South Wales2013 to 2016
House--------------
First Quartile$561,010$418,171+34.2%$351,396$331,720+5.9%+$209,614
Median$617,748$637,533-3.1%$388,562$457,239-15.0%+$229,186
Third Quartile$711,105$1,038,768-31.5%$449,591$701,375-35.9%+$261,514
Unit--------------
First Quartile$378,874$422,764-10.4%$243,508$305,938-20.4%+$135,366
Median$447,797$614,575-27.1%$289,953$430,178-32.6%+$157,844
Third Quartile$492,784$811,857-39.3%$315,205$570,847-44.8%+$177,579

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2016
Housing values, 2016 Third Quartile, New South Wales: $811,857 Median, New South Wales: $614,575 First Quartile, New South Wales: $422,764 Third Quartile, New South Wales: $1,038,768 Median, New South Wales: $637,533 First Quartile, New South Wales: $418,171 Third Quartile, Penrith City: $492,784 Median, Penrith City: $447,797 First Quartile, Penrith City: $378,874 Third Quartile, Penrith City: $711,105 Median, Penrith City: $617,748 First Quartile, Penrith City: $561,010
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2016
Change in housing values, 2013 to 2016 Third Quartile, New South Wales: $241,010 Median, New South Wales: $184,397 First Quartile, New South Wales: $116,826 Third Quartile, New South Wales: $337,393 Median, New South Wales: $180,294 First Quartile, New South Wales: $86,451 Third Quartile, Penrith City: $177,579 Median, Penrith City: $157,844 First Quartile, Penrith City: $135,366 Third Quartile, Penrith City: $261,514 Median, Penrith City: $229,186 First Quartile, Penrith City: $209,614
Source: Hometrack 2011-2016, Housing Valuation System

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