Pennington

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 7.83% for the past year.

Investors saw the median home price rise to $420,000.

Profits due to an upward trend in home prices in the suburb averaged 2.94% per annum over a 3-year period.

PENNINGTON now ranks at the 45th 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 high, as opposed to average gains per annum over the past five years.

Because of this real estate investors could earn a rental income of $360 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 66.8 days.

In 2016, 38 properties were sold in PENNINGTON during the past year, making it the 181st most active market in SA based on total real estate transactions.