Pennington

POSTAL CODE: SA, 5013
HOUSE

PENNINGTON, 5013 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Average median house prices in SA have risen as a whole, pulling PENNINGTON, 5013 values up and netting property investors a capital gain of 6.55% for the past year.

Investors saw the median home price rise to $805,000.

Profits due to an upward trend in home prices in the suburb averaged 7.32% per annum over a 3-year period.

PENNINGTON now ranks at the 352nd place on a list of fastest growing suburbs in the territory.

Figures from the previous quarter show that capital gains for real estate buyers in PENNINGTON are low, as opposed to average gains per annum over the past five years.

Because of this real estate investors could earn a rental income of $560 based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In PENNINGTON, homes and units usually stay on listing for an average of 78.8 days.

In 2016, 39 properties were sold in PENNINGTON during the past year, making it the 174th most active market in SA based on total real estate transactions.

Surburb overview

Pennington is a residential suburb located approximately 11 kilometres northwest of Adelaide's central business district. It falls within the City of Charles Sturt local government area and is bordered by major roads such as Grand Junction Road and Addison Road, providing easy access to the CBD and surrounding areas. Public transportation is well-served with regular bus services, and the nearby Port Adelaide train line offers further connectivity.

The suburb has a population of around 3,500 residents and is known for its diverse and multicultural community. Pennington features a mix of housing, including post-war homes, public housing, and newer residential developments. This variety caters to a wide demographic, including families, young professionals, and retirees.

Essential services are easily accessible in Pennington, with the Arndale Shopping Centre nearby, offering a range of supermarkets, retail stores, and dining options. The suburb is also close to Port Adelaide Plaza and Westfield West Lakes, providing further shopping and entertainment choices. Healthcare services are well-catered for with local medical clinics, and the Queen Elizabeth Hospital, located in nearby Woodville, offers comprehensive medical care.

Recreational opportunities in Pennington include several parks and green spaces, such as Pennington Oval and Fawk Reserve, where residents can enjoy picnics, sports, and family gatherings. The suburb is also close to the Port River and Semaphore Beach, offering opportunities for water-based activities and coastal walks. The nearby Port Adelaide area provides cultural attractions, including historical sites, museums, and a lively dining scene.

Families in Pennington benefit from several educational institutions in the area, including Pennington School R-7 and nearby Mount Carmel College, making it a convenient location for families with school-aged children. The combination of affordable housing, access to essential services, and recreational facilities makes Pennington a practical and appealing choice for a range of residents.

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