Panania Property Factsheet 1st Half of 2019

Q1 2019* saw Panania* record a median house price of $850,000 and a median unit price of $662,500. This represents annual (Q1 2018 – Q1 2019) price changes of -16.5% (house) and -3.7% (unit). When compared to the Panania 2^nd Half 2018 Research Factsheet, which reported annual (Q3 2017 – Q3 2018) price softening of -1.2% and -1.6% for houses and units respectively, properties in Panania have recently increased in affordability.

By comparison, the Canterbury-Bankstown Local Government Area (LGA) reported median prices of $850,000 (house) and $540,000 (unit), showing annual (Q3 2017 – Q3 2018) price changes of -15.0% and -8.0% respectively. This places Panania* on-par with wider LGA’s median house price, whilst units traded at an elevated premium in Panania*, which also benefited from more sustained pricing in this time.

Panania’s* rental market recorded median prices of $550 per week (house) and $550 per week (unit) in Q1 2019. This represents annual (Q1 2018 – Q1 2019) price stability for houses, whilst units saw a slight softening of -5.2%. Across this same period, rental market activity increased significantly, up 74.6% for houses and 128.6% for units. This was backed by low average times to let of just 23 days (house) and 24 days (unit) in Q1 2019. A vacancy rate of just 2.2% in Panania* as of December 2018 is further evidence of strong demand, sitting well below Sydney Metro’s level of 3.6%. Investors can thus take confidence in demand in Panania*.

Projects commencing during the 1^st half of 2019 in the Canterbury-Bankstown LGA worth an estimated $566.3M are set to benefit Panania* and its surrounds. A majority of these are mixed-use ($346.5M or 61.2%), with residential ($111.6M or 19.7%), infrastructure ($80.0M or 14.1%) and commercial projects ($28.2M or 5.0%) also set to commence in the half.