Mount Vernon NSW 2178: Property Market Report & Real Estate Insights

Part of Penrith, NSW

Mount Vernon Real Estate Market Outlook

Thinking about buying in Mount Vernon? Now could not be a better time, with 602 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $4,547,000 with prices in this suburb ranging from $43,000 to $16,363,000. The approximate distance to the coast is 30 Km.

Living in Mount Vernon

Prices are above market average and increase steadily under persistent demand. A more sustainable rate of price growth is anticipated in the short to medium term. 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 Mount Vernon due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. The slightly lower than average earnings from occupations in Mount Vernon changes the housing and lifestyle preference. It is more a matter of what can be afforded rather than what would we prefer, leading to slower price increases over time. Low population density implies low demand and limits housing choices and price increases. Could be a good entry point for first home buyers needing to somehow get into the market. With very low industrial sector presence in Mount Vernon the focus is on lifestyle, driving specific demand around facilities, services, and open space. Most people are employed in service sectors with a higher than average proportion being able to work from home. This may incease demand over the medium term.

Instant Property Valuation

Mount Vernon is a charming suburb located on the outskirts of Penrith, New South Wales. Known for its spacious properties and serene, semi-rural atmosphere, Mount Vernon offers a unique blend of tranquil living with convenient access to urban amenities. The housing market in this area is characterized by large, detached homes on substantial plots of land, appealing to families seeking privacy and space. With its lush greenery and scenic views, the suburb provides a picturesque setting that is particularly attractive to those looking to escape the hustle and bustle of city life. Over the past few years, Mount Vernon has seen steady demand for its real estate, making it a stable yet desirable market for prospective homeowners and investors alike.

Living in Mount Vernon provides residents with a peaceful lifestyle while still being well-connected to essential services and leisure activities. The suburb enjoys a tight-knit community feel where neighbors often know each other, fostering a welcoming environment. Despite its rural ambiance, Mount Vernon is only a short drive from Penrith's bustling city center, where residents can access a wide range of shopping, dining, and entertainment options. Additionally, the nearby Western Sydney Parklands offer vast outdoor spaces for recreational activities, making it ideal for families and nature enthusiasts. With good schools close by and efficient public transport links, the suburb balances serene country living with modern conveniences, making it a sought-after location for those desiring the best of both worlds.

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