Suburb guide · Georges River council area
Mortgage broker for Penshurst (2222) home buyers
Of Penshurst's 12,592 residents in 2021, 47.9% were born overseas. China led the overseas birthplaces with 1,642 people and Nepal came second with 1,096. The housing is mixed (45.6% units, 40.9% houses), and median sales in January to March 2026 were $735,000 for a unit and $1,945,000 for a house. We don't have an office in Penshurst. Sulav Adhikari works with buyers here by phone or video, from the first conversation to settlement.
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Who lives in Penshurst
- Residents
- 12,5924,580 occupied homesABS Census 2021
- Born overseas
- 47.9%Top birthplaces: China, Nepal, PhilippinesABS Census 2021
- Born in Nepal
- 1,0968.7% of residentsABS Census 2021
- Speak Nepali at home
- 1,1268.9% of residentsABS Census 2021
- Arrived 2016 to 2021
- 9.2%1,164 people born overseasABS Census 2021
- Median age
- 382.6 people per householdABS Census 2021
- Median household income
- $1,835/wk$95,420 a yearABS Census 2021
- Households renting
- 36.7%30.3% mortgage, 30.3% owned outrightABS Census 2021
- Flats and apartments
- 45.6%40.9% separate houses, 13.1% semis and townhousesABS Census 2021
- Median rent, new leases
- $630/wkAll dwellings, postcode 2222NSW DCJ, April to June 2026
All of Penshurst (2.5300000000000002 km²) is in Georges River council area. Of the 26 NSW suburbs in our guides, Penshurst has the 13th-highest Nepal-born population (1,096) and the 15th-highest median household income ($1,835 a week). At 38, the median age is among the oldest of our suburbs, and households average 2.6 people. Only 11.7% of workers used a train on Census day 2021, a lockdown day when 35.7% worked from home.
What it costs to buy in Penshurst
NSW DCJ's latest sales figures (January to March 2026) put the median unit price in postcode 2222 at $735,000 from 40 sales and the median house at $1,945,000. Read the house figure with care: DCJ marks it as a small sample. The step up from the median unit to the median house is $1,210,000. Against the median household income recorded here in 2021 ($95,420 a year), that is 7.7 times for a unit and 20.4 times for a house.
| Item | Median unit | Median house |
|---|---|---|
| Median sale price | $735,000 | $1,945,000 |
| 5% deposit | $36,750 | $97,250 |
| 10% deposit | $73,500 | $194,500 |
| 20% deposit (no LMI) | $147,000 | $389,000 |
| Transfer duty, standard | $27,262 | $88,262 |
| Transfer duty, first home buyer | $0 | $88,262 |
| Registration fees | $365 | $365 |
| 5% Deposit Scheme cap ($1,500,000) | Under | Over |
| Cash needed, first home buyer, 10% deposit | $73,865 | $283,127 |
- Owner-occupier, established home, every scheme condition met. Cash needed excludes conveyancing and LMI. 2026-27 rules, checked 26 October 2026.
The first home exemption covers the median unit in full: $27,262 of duty becomes nil for an eligible buyer. The median house is over $1,000,000, so no first home concession applies and every buyer pays $88,262 in duty.
The $1,500,000 scheme cap leaves $765,000 of room above the median unit, but the median house is out of range by $445,000.
Try a price other than $735,000 in the NSW stamp duty calculator
Rent in Penshurst compared with buying
New leases in postcode 2222 had a median rent of $630 a week in April to June 2026, or $32,760 a year, across 76 new bonds. Two-bedroom units leased at a median $620 a week.
The 2021 Census recorded a median rent of $400 a week and a median mortgage repayment of $2,167 a month, 25% more than the median rent. New leases now cost 57% more than the 2021 median, although the two sources measure different things (new bonds against all renters). That 2021 rent was 22% of a median household's income.
Put another way, 58 weeks of today's median rent would cover a 5% deposit ($36,750) on the median unit. Most households here own their home: 36.7% rent, 30.3% have a mortgage and 30.3% own outright.
| Dwelling | Weekly | Yearly | New bonds |
|---|---|---|---|
| All dwellings | $630 | $32,760 | 76 |
| 2-bedroom unit | $620 | $32,240 | 45 |
| House (all sizes) (small sample) | $910 | $47,320 | 11 to 30 |
- No interest rate is assumed: compare with your own rate in the repayments calculator.
Penshurst buyers we work with
Nepali-speaking households
Nepal-born residents number 1,096 here, 8.7% of the population, with 1,126 speaking Nepali at home. Common questions here: will a lender accept a gift from parents in Nepal, how is overseas income or savings counted, and what does a deposit in lakh come to in dollars.
Nepali community home loans NPR to AUD converter
Reviewing the loan you have
30.3% of Penshurst homes are owned with a mortgage, with a median repayment of $26,004 a year in 2021. If your loan is a few years old, or your income or visa status has changed, a review shows whether another lender would treat you better. Refinancing
Compare nearby suburbs
The nearest suburb we cover is Hurstville, 1.5 km away. Every neighbour listed has a higher median unit price than Penshurst's $735,000. Hurstville has a larger Nepal-born community (4,938 people).
| Suburb | Distance | Born in Nepal | Median rent | Median unit |
|---|---|---|---|---|
| Penshurst | — | 1,096 | $630/wk | $735,000 |
| Hurstville | 1.5 km | 4,938 | $750/wk | $740,000 |
| Allawah | 2.9 km | 653 | $700/wk | $838,000 |
| Carlton | 3.6 km | 590 | $700/wk | $838,000 |
| Kogarah | 4.7 km | 1,848 | $750/wk | $810,000 |
| Rockdale | 5.4 km | 2,451 | $750/wk | $760,000 |
- Born in Nepal: ABS Census 2021. Rent and unit price: NSW DCJ, latest quarter.
See Hurstville rents and prices, home prices in Allawah or the Carlton suburb guide. All NSW suburb guides
Questions about buying in Penshurst
How much stamp duty would a first home buyer pay on a median Penshurst unit?
None, if you qualify for the First Home Buyers Assistance Scheme: the $735,000 median unit is under the exemption limit. Other buyers pay $27,262. Checked against Revenue NSW on 26 October 2026.
What deposit do I need to buy in Penshurst?
For the median unit ($735,000): $36,750 at 5%, $73,500 at 10% or $147,000 at 20%. The median house needs $389,000 for 20%. Below 20%, expect LMI unless you use the 5% Deposit Scheme or a guarantor.
Can I use the 5% Deposit Scheme in Penshurst?
The median unit ($735,000) is $765,000 under the $1,500,000 cap. The median house ($1,945,000) is $445,000 over the $1,500,000 cap. You must be a citizen or permanent resident and a first home buyer.
Is it cheaper to rent or buy in Penshurst?
That depends on the rate you are offered, so we don't assume one. New leases in postcode 2222 cost a median $32,760 a year; in 2021 the median mortgage here cost $26,004 a year in repayments.
Your Penshurst numbers, checked
Sulav checks your deposit, income and visa against lender policy for a unit around $735,000, in a 60-minute call by phone or video.
Sources
Data last updated . Census figures are for 2021; DCJ figures are quarterly medians.
- ABS QuickStats 2021: Penshurst (SAL13197)
- ABS Census 2021 tables for SAL13197
- ASGS Edition 3 boundaries
- Rent and Sales Report, sales January to March 2026
- Rent and Sales Report, rents April to June 2026
- Transfer duty rates
- First Home Buyers Assistance Scheme (new or existing home)
- 5% Deposit Scheme price caps