Penshurst

Penshurst, VIC 3289 is a small suburb with a population of 677 residents. The suburb has a diverse range of age groups, with a significant number of residents aged between 45 and 64 years. The median household income is $1,014 per week. The top three occupations are Managers, Professionals, and Technicians and Tradesworkers. Residents mainly commute by motor vehicle and also have a reasonable proportion working from home. With a sale price IQR ratio of 60.9% and a median growth rate of -37.8%, Penshurst may appeal to renovators looking to add value to properties. The suburb has a modest market absorption rate of 16.7%, indicating a balanced market demand. Property investors should consider the rental yield of 6.3% and the vacancy rate of 2.8% when evaluating investment opportunities. Penshurst, VIC 3289 offers a quiet lifestyle with a tight-knit community. The suburb presents opportunities for investors interested in renovating properties for potential capital growth. Homeowners looking to live in the area can benefit from the affordable median rent, while investors should carefully analyze the rental market dynamics for sustainable returns. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022