Panania Market Update 1 st H a l f 2 0 2 5
FUTURE DEVELOPMENTS
OVERVIEW
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 2024 and Q1 2025, total sales declined by -6.0% for houses (to 187 sales in Q1 2025) but increased by 27.3% (to 42 sales 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 to units.
CHANGE FROM LAST
YEAR
Panania£ plans to see approximately $377.4M of new projects commencing construction in 2025. Residential
Industrial
$26.6M
$851.1K
Commercial
HALF YEAR
$60.8M
HOUSE SALE S HOUSE ME DIAN PRICE
Mixed-Use
HOUSE RE NTAL PRICE
Projects $286.1M
UNIT SALE S There are several residential & mixeduse projects in Panania* that are set to commence construction in 2025, including (but not limited to):
UNIT ME DIAN PRICE UNIT RE NTAL PRICE
$ MARKET CONDITIONS MEDIAN PRICE Q1 2025
$1.5M
$1.1M
MEDIAN PRICE Q1 2025
$835
SALES
AVERAGE DAYS ON MARKET Q1 2025
51
67
HOUSE
U N I T
RENTALS
$890
•
4 Doyle Road (31 Apartments)
•
Riverlands Site (350 Residential Lots)
•
5 – 7 Hydrae Street (6 Dwellings)
•
8 Bell Street (5 Townhouses)
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
AVERAGE DAYS ON MARKET Q1 2025
17
19
HOUSE
U N I T
111 Units/ Apartments
11 Townhouses
23 Dwellings
350 Lots