Thinking about buying in Pennington? Now could not be a better time, with 1865 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $691,000 with prices in this suburb ranging from $272,000 to $2,969,000. Pennington is located fairly close to the coast at just 1Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Pennington Real Estate Market Outlook

Good balance between supply and demand ensures a range of affordable options within budget limits. Recent increases in listings may provide buying opportunities. In this area of average incomes, there is a mix of housing size and quality. While this may present buying opportunities, growth may be constrained. As buyers begin to examine Pennington due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. The high percentage of professional people in Pennington classifies the area as "gentrified". This implies high demand for quality housing, generally of larger than average size. Price growth is ensured even where the state affordability index is negatively impacting other areas. High density population in Pennington requires consistent turnover in housing ensuring constant demand. Housing styles may be a mix of low, medium, and high density, providing choice for well-financed buyers and value growth over time. High industry presence in the wider area is a double-edged sword. While local employment options are high, the presence of industrial buildings may negatively impact lifestyle perception. Demand from first home buyers and investors however ensures good price growth.

Houses for sale Pennington

702 torrens rd, pennington, sa, 5013

2

1

6

710000

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General Points of Interest

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