Thinking about buying in Penfield? Now could not be a better time, with 890 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $545,000 with prices in this suburb ranging from $380,000 to $806,000. Penfield is located fairly close to the coast at just 7Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Penfield Real Estate Market Outlook

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 Penfield due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. Low average earnings from people in Penfield leads to lower quality housing which also negatively impacts the provision of facilities. As a consequence this area is often seen as less desirable, with lower quality of housing and slower price growth. Lower than average population density constrains growth in Penfield to an extent. However, where buyers are willing to compromise on housing and lifestyle choice, there are affordable options. With very low industrial sector presence in Penfield 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.

Properties for sale Penfield

	185 argent rd, penfield, sa, 5121	3	1	4	CONTACT AGENT
	unit 172, northern com res village, 50 andrews rd, penfield, sa, 5121	2	1	1	245000
	unit 99, northern com res village, 50 andrews rd, penfield, sa, 5121	2	1	2	207900
	unit 91, northern com res village, 50 andrews rd, penfield, sa, 5121	2	1	1	270000

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