Penshurst is a small locality in Victoria within the Southern Grampians local government area (postcode 3289). With a population of 677, the suburb has an older-leaning population with a median age of 51. Households earn a median income of $53K per year, with an average household size of 2.3 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.2% year-on-year at the LGA level. VIC employment has moved +0.8% year-on-year in the official ABS Labour Force trend series, which provides the broader jobs backdrop for this suburb. VIC also had 41 Commonwealth-backed major projects under construction, 18 underway, and 24 in planning as at 2025-09-01, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are managers, labourers, community & personal service. Employment in the area leans toward agriculture and healthcare. The top ancestries reported are Australian, English, Scottish.
The median house price in Penshurst is $300,000, having declined by 3.2% over the past year. The current median weekly rent is $380. This gives a gross rental yield of approximately 6.6%. The median monthly mortgage repayment is $825.
Penshurst is served by 2 schools, including 2 primary. The average ICSEA score is 975, which is around the national average of 1,000. Public transport access includes 3 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Southern Grampians LGA is higher than average at 8,179 incidents per 100,000 population.
Looking at the investment signals, The gross rental yield works out to roughly 6.6%, which reads as high yield. Property prices sit below the state median ($300K/$850K), which can point to relative value. The price-to-income ratio of 5.7x is considered affordable. House prices have moved -3.2% year-on-year. Population growth of +0.2% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.