Penrith Market Update 1 st H a l f 2 0 2 5
FUTURE DEVELOPMENTS
OVERVIEW
In Q1 2025, Penrith* recorded a median house price of $1, 005,000 and a median unit price of $659,250. This is an annual (Q1 2024 – Q1 2025) price growth of 6.8% for houses and 8.6% for units. Comparing Q1 2024 and Q1 2025, total sales declined by -11.8% for houses (to 584 sales in Q1 2025) and increased by 10.6% (to 449 sales in Q1 2025) for units. This confirms there is an undersupplied house market and a highly demanded unit market, which created a buffer against higher interest rates (hence price growth). The increase in unit sales and higher price growth is due to low house stock, as buyers pivot from looking for a house to a unit. Thus, now is an ideal time for owners to capitalise on their investments.
CHANGE FROM LAST
YEAR
Penrith£ plans to see approximately $3.4B of new projects commencing construction in 2025. Residential $214.4M Commercial $645.3M
HALF YEAR
Mixed-Use $1.2B
HOUSE SALE S
Industrial $893.4M
HOUSE ME DIAN PRICE Infrastructure $479.4M
HOUSE RE NTAL PRICE
A key mixed-use development in the pipeline is Winter Sports World, which will include a 300m indoor ski run, a hotel, pools, and food/drink premises. This is estimated to attract 200,000 unique visitors each year, creating local jobs in the Penrith area.
UNIT SALE S UNIT ME DIAN PRICE UNIT RE NTAL PRICE
There are several residential & mixeduse projects set to commence in 2025, including(but not limited to):
$ MARKET CONDITIONS MEDIAN PRICE Q1 2025
$1.0M
$659K
MEDIAN PRICE Q1 2025
$628
SALES
AVERAGE DAYS ON MARKET Q1 2025
42
73
HOUSE
U N I T
RENTALS
$560
•
43 Bringely Road (7 townhouses)
•
148-154 Caddens & Castle Roads Subdivision (85 lots)
•
123 Mulgoa Road and Ransley St Mixed Use (178 apartments)
Most of the residential projects in the pipeline plan to deliver units, which suggests that the current undersupply of houses will continue. This will push prices up further for the remainder of 2025, for all stock types.
AVERAGE DAYS ON MARKET Q1 2025
18
17
HOUSE
U N I T
1,406 Units/ Apartments
21 Townhouses
4 Dwellings
388 Lots