Panania’s family-friendly appeal, 23km south-west of the CBD, strong train links, schools and parks plus outsized rental demand are pulling buyers willing to trade premium for convenience and income security. House stock remains scarce so the roughly $994 million pipeline (mostly units) looks like a growth lever while buyers should keep an eye on affordability if interest rates rise or the new supply wave arrives. Broadly, values have continued to tick upward over the past six months as undersupply keeps pressure on both houses and units, with median house prices near $1.65 million and unit prices rising steadily.