Get a property report and suburb profile for any property in Penshurst

Penshurst is centred around its train station on the Illawarra line and a compact shopping strip, which gives the locality a village feel. Tree-lined streets contain a mix of early 20th cottages and bungalows, interwar homes and low-rise apartments, and the suburb attracts families, commuters and people downsizing. Reliable public transport and an established suburban character make day-to-day life convenient and settled.

With a population of 12,592 and a median age of 38, Penshurst is a suburb of families — couple families with children are the largest household group (46.9%) and, together with couple families without children, account for 82.2% of families. Owner-occupied homes are more common than rentals, and local parks, sports fields, shops and cafes are close at hand. The Penshurst Park Sporting Hub has already added a cricket training facility and further stages will deliver synthetic fields, a grandstand (around 275 seats), gender-neutral change rooms and a youth centre. Whether Penshurst suits you depends on what you’re after in a suburb.

On the figures, buying in Penshurst sits well above what local households earned at the last Census. The median house price of $1,791,500 is about 18.8 times a typical local annual household income at the last Census (that income works out to $95,420 a year), while the median unit price of $720,000 is about 7.5 times a typical local annual household income. Both purchase multiples are well above local incomes, with the house multiple especially high.

Renting takes a sizeable share of local income. With a typical local household earning $1,835 a week at the last Census, the average house rent of $865 a week would be about 47.1% of that weekly income and the average unit rent of $605 a week about 33.0%. That makes buying look more stretched against local incomes than renting, though rents still take up a significant share for many households.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

A clear pattern in Penshurst over the past 12 months is that rents and values moved at different speeds. House rents climbed 8.4%, a solid rise, while median house values rose a more modest 2.6%. Unit values increased 7.3%, also a solid rise, while unit rents grew 4.3%, a moderate rise. Put simply, the rent a house earns outpaced that house’s price growth this year, whereas unit prices rose faster than the rent those units earn.

If rental income is your priority, the house-side rent growth is the figure that matters. If capital growth is your priority, unit values were the stronger performer over the year. Whether that balance suits your plans depends on your own goals and circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.