FOR SALE
$299,000

5 Penrose Place
Newlands Arm VIC 3875

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 1020m2
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PERFECT ON PENROSE

Located in the desirable Penrose Place this land offers the perfect opportunity to join a vibrant and growing community. The corner block is 1,020 sqm, providing ample space for your dream home, garden, and more. No easements means you have more freedom to design and construct your home without additional constraints. Newlands Arm is quickly becoming a sought-after area for homeowners due to its beautiful surroundings, strong sense of community & walking distance to the waters edge & beach area. Whether you're looking to build a family home or a retirement retreat this location has much to offer.
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Property Details for 5 Penrose Pl, Newlands Arm

Building Type
Land
Land Size
1020m2

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About Newlands Arm 3875

The size of Newlands Arm is approximately 4.2 square kilometres. The population of Newlands Arm in 2011 was 502 people. By 2016 the population was 729 showing a population growth of 45.2% in the area during that time. The predominant age group in Newlands Arm is 60-69 years. Households in Newlands Arm are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Newlands Arm work in a trades occupation. In 2011, 89.7% of the homes in Newlands Arm were owner-occupied compared with 90.2% in 2016.

Newlands Arm has 584 properties. Over the last 5 years, Houses in Newlands Arm have seen a 42.74% increase in median value. As at 31 October 2024:

  • The median value for Houses in Newlands Arm is $641,690 while the median value for Units is $456,690.
  • Houses have a median rent of $480.
There are currently 17 properties listed for sale, and no properties listed for rent in Newlands arm on OnTheHouse. According to CoreLogic's data, 13 properties were sold in the past 12 months in Newlands arm.

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Deborah Pearson
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King & Heath First National - PAYNESVILLE
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