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, $331,403 lower than the median house valuation for Greater Sydney.

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 CityGreater SydneyPenrith City relative to Greater SydneyPenrith CityGreater SydneyPenrith City relative to Greater Sydney2013 to 2016
House--------------
First Quartile$561,010$669,558-16.2%$351,396$434,107-19.1%+$209,614
Median$617,748$949,151-34.9%$388,562$623,561-37.7%+$229,186
Third Quartile$711,105$1,402,097-49.3%$449,591$885,643-49.2%+$261,514
Unit--------------
First Quartile$378,874$547,903-30.9%$243,508$379,822-35.9%+$135,366
Median$447,797$699,292-36.0%$289,953$492,743-41.2%+$157,844
Third Quartile$492,784$872,649-43.5%$315,205$615,102-48.8%+$177,579

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2016
Housing values, 2016 Third Quartile, Greater Sydney: $872,649 Median, Greater Sydney: $699,292 First Quartile, Greater Sydney: $547,903 Third Quartile, Greater Sydney: $1,402,097 Median, Greater Sydney: $949,151 First Quartile, Greater Sydney: $669,558 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, Greater Sydney: $257,547 Median, Greater Sydney: $206,549 First Quartile, Greater Sydney: $168,081 Third Quartile, Greater Sydney: $516,454 Median, Greater Sydney: $325,590 First Quartile, Greater Sydney: $235,451 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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