Panania Research Factsheet 1st Half 2017
The Panania property market has witnessed exceptional performance over the past 12 months to Q1 2017. Strong demand for Panania’s unique property offerings have spurred solid annual growth figures and developments.
The Panania property market has witnessed exceptional performance over the past 12 months to Q1 2017. Strong demand for Panania’s unique property offerings have spurred solid annual growth figures and developments.
The current median price is at $1,070,000 for houses and $787,526 for units, with impressive annual price growth figures of 15.7% and 17.1% respectively. Panania’s median prices sit well above their local government area’s (LGA) median ($1,000,000 and $580,000 respectively), which indicates that buyers are willing to pay premium for the unique proposition without sacrificing stronger capital growth when compared to their LGA.
Incoming developments for the 1st half of 2017 total an estimated value of $33.5M. The bulk of developments are infrastructure ($15.9M) and mixed use ($8.9M). While residential developments drive a smaller portion of the total value ($2.0M), when combined with mixed use projects the Panania market will see the addition of 42 dwellings to the market.
