Penshurst suburb profile
Penshurst is a charming suburb located in the southern part of Sydney, approximately 17km from the CBD. Known for its family-friendly atmosphere, Penshurst offers a mix of residential options, including classic Federation homes and modern apartments. The suburb boasts a vibrant local community with a variety of shops, cafes, and restaurants, particularly around Penshurst Street. With excellent public transport links, including a train station on the T4 Illawarra line, residents enjoy easy access to the city and surrounding areas. Penshurst's parks, schools, and community facilities make it an appealing choice for families and professionals seeking a balanced suburban lifestyle.
Penshurst property market performance
Penshurst’s property market has shown positive growth over the past 12 months, with house values increasing by 4.3% and unit values rising by 9.9%. The median house price over the past three months has averaged $1.89 million, while units have averaged $655,000, indicating strong demand for both property types.
Sales activity has been moderate, with 15 houses and 27 units sold in the past three months. Units are selling faster than houses, with a median time on market of 20 days compared to 50 days for houses, suggesting a higher demand for units in the area.
The rental market in Penshurst has seen varied changes over the last 12 months. While the average rent for houses has remained stable, unit rents have increased by 5.9%, reflecting a growing interest in the unit rental market.
Median price - houses$1.89MPast 3 months
Median price - units$655KPast 3 months
Change in value - houses4.3%12 months
Change in value - units9.9%12 months
Houses sold15Past 3 months
Units sold27Past 3 months
Median DOM - houses49.5Past 12 months
Median DOM - units19.5Past 12 months
Average rent - houses$750Past 12 months
Average rent - units$583Past 12 months
Change in rent - houses-2.0%Past 12 months
Change in rent - units5.9%Past 12 months
Penshurst demographics
Penshurst, located in the southern suburbs of Sydney, is a family-friendly area known for its community-oriented atmosphere and convenient access to both urban amenities and natural attractions. With a population of 12,592, the suburb offers a balanced lifestyle, appealing to families, professionals, and retirees alike. The median age of 38 suggests a mature community, with many residents enjoying the suburb's peaceful environment and proximity to schools, parks, and shopping centers.
The suburb's housing market is diverse, with a significant portion of properties owned outright (31.1%) or with a mortgage (31.2%), indicating a stable community with long-term residents. Additionally, 37.7% of properties are rented, providing options for those seeking flexibility, such as young professionals and families new to the area. The presence of couple families with children (46.9%) highlights Penshurst's appeal to families, supported by its range of local amenities and family-friendly services.
Penshurst's community is characterized by a mix of cultural backgrounds, contributing to its vibrant and inclusive atmosphere. The suburb's convenient transport links, including train and bus services, make it an attractive choice for commuters working in Sydney's CBD or surrounding areas. With its blend of suburban charm and urban convenience, Penshurst continues to be a sought-after location for those seeking a balanced and fulfilling lifestyle.
Penshurst infrastructure, key developments and investment opportunities
Penshurst is undergoing some notable developments that may impact its property market. The suburb is set to benefit from the $1 billion redevelopment of nearby Hurstville, which will introduce new retail, residential, and entertainment options, potentially boosting property values in Penshurst. Additionally, there are plans for infrastructure upgrades, including improvements to Penshurst Park and the Hurstville Aquatic Leisure Centre on King Georges Road, enhancing local recreational amenities.
The area's excellent transport links, with Penshurst station on the Illawarra Line providing a 27-minute commute to Sydney CBD, continue to be a strong selling point. The suburb's proximity to Hurstville's extensive shopping precinct and its own local commercial area around the station add to its appeal. These factors, combined with Penshurst's mix of quality schools and green spaces, are likely to sustain demand for properties in this well-established suburb.
Penshurst rental market trends
The rental market in Penshurst has shown stability, with house rents remaining unchanged over the past year at $750 per week. In contrast, unit rents have experienced a modest increase of 5.9%, reaching $582 per week. This steady growth in unit rents reflects a consistent demand in the area, making Penshurst an attractive option for renters seeking affordability and convenience.
Suburbs near Penshurst
Some popular suburbs near Penshurst include: