Penrith Market Update 1 st H a l f 2 0 2 6
OVERVIEW
In Q1 2026, Penrith* recorded a median house price of $1,200,000, and a median unit price of $715,000. This is an annual (Q1 2025 – Q1 2026) price growth of 17.1% for houses and by 8.6% for units. Between Q1 2025 – Q1 2026 house sales has declined, by -28.2% (to 468 for houses in Q1 2026) and by -15.6% for unit sales (to 320 sales in Q1 2026). The house and unit market is undersupplied, which creates a buffer against multiple cash rate hikes in 2026. Thus, here is a continuing opportunity for owners to capitalise on their investments. There is a significant number of new units/apartments commencing construction in 2026, providing buyers with more options.
CHANGE FROM LAST
YEAR
HALF YEAR
HOUSE SALE S
FUTURE DEVELOPMENTS Penrith will see approximately $2.1B of new developments due to commence construction in 2026. Commercial $238.3M Residential $167.7M
Industrial $162.4M Infrastructure
HOUSE ME DIAN PRICE
Mixed-Use
HOUSE RE NTAL PRICE
$260.4M
Projects $1.3B
UNIT SALE S UNIT ME DIAN PRICE
There are several mixed-use projects planned for Penrith, which will deliver a combination of apartments, hotel, retail, independent living units, aged care facility, offices, and many others.
UNIT RE NTAL PRICE
This aims to address housing needs, whilst simultaneously improving the commercial offering and liveability aspects for residents. New projects will also stimulate local job creation and contribute to a growing economy.
$ MARKET CONDITIONS MEDIAN PRICE Q1 2026
$1.2M
$715K
MEDIAN PRICE Q1 2026
$750
SALES
AVERAGE DAYS ON MARKET Q1 2026
33
47
HOUSE
U N I T
RENTALS
$590
New housing is delivered through both mixed-use and residential projects. At present there are no new houses due for construction. This suggest reliance on available stock and a possible spill-over to the unit market, which will push up property prices even further.
AVERAGE DAYS ON MARKET Q1 2026
20
18
HOUSE
U N I T
1,458 Units/ Apartments
34 Townhouses
707 Lots