All About Penna, Sorell, TAS, 7171

The housing market in Penna, a serene suburb of Sorell in Tasmania, offers a tranquil and rural lifestyle that appeals to families, retirees, and individuals seeking a peaceful retreat. Over recent years, Penna has experienced a steady interest from buyers due to its picturesque landscapes and proximity to the amenities of Sorell and Hobart. The area is characterized by a mix of charming older homes and modern developments, providing a variety of options for potential homeowners. With median house prices generally being more affordable compared to larger city areas, Penna presents an attractive opportunity for those looking to invest in property while escaping the hustle and bustle of urban life.

Living in Penna provides residents with a unique blend of rural charm and convenient access to city facilities. The community enjoys the tranquility of the Tasmanian countryside, with easy access to outdoor activities such as hiking and fishing, given its location near water bodies like the Pitt Water-Orielton Lagoon. At the same time, it's only a short drive from the town of Sorell, where residents can find shopping centers, schools, and health services. This ideal location, coupled with a friendly and tight-knit community, makes Penna a desirable location for those seeking a balanced lifestyle that combines nature with the comforts of modern amenities.

Penna Real Estate Market Outlook

Thinking about buying in Penna? Now could not be a better time, with just 232 residential dwellings it's a highly sought after location. The average property price in this area is in the region of $616,000 with prices in this suburb ranging from $32,000 to $1,893,000. Penna is located very near to the coast so expect stunning views of the ocean and access to beaches. Demand is likely to be very strong in this location which will support higher prices

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 Penna due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. The high percentage of professional people in Penna classifies the area as "gentrified". This implies high demand for quality housing, generally of larger than average size. Price growth is ensured even where the state affordability index is negatively impacting other areas. High density population in Penna requires consistent turnover in housing ensuring constant demand. Housing styles may be a mix of low, medium, and high density, providing choice for well-financed buyers and value growth over time. High industry presence in the wider area is a double-edged sword. While local employment options are high, the presence of industrial buildings may negatively impact lifestyle perception. Demand from first home buyers and investors however ensures good price growth.

Instant Property Valuation

---

---

---

---

---

Public Transport

---

General Points of Interest

---

Nearby Suburbs

Residz covers 12m+ Australian properties and brings together a wealth of data to give you a better understanding of an area. From crime and schools to bush fire, flood risk and more. Begin your search for properties for sale or learn more about where you currently reside. Residz is an exciting next-generation Real Estate platform getting better by the day!