Reasons to Buy a House in the Penrith Region
If you are looking for a perfect balance between urban and suburban living, Penrith is the right place.
It is one of the fastest-growing regions in Sydney, with a population of 220,908+ people.
Purchasing a home in Penrith presents an excellent investment opportunity. To know more about the benefits of buying a house in this region, keep reading.
1. Great Location
When we decide to buy a house, the most important thing we consider is the location. And Penrith has a great location. It sits just in the center of Greater Western Sydney, providing convenient connections to nearby suburbs.
Its closeness to Blue Mountains National Park means you can even go for outdoor fun activities, such as camping, hiking, and mountain biking. Here are some of the best locations in the Penrith region to buy houses:
- St Marys
- St Clair
- Rooty Hill
St Marys is a suburb within the Penrith region. With its close proximity to Penrith’s city center, you enjoy easy access to a range of amenities, including shopping centers, schools, and recreational facilities. This area offers a diverse housing market, with options ranging from family homes to modern apartments.
St Clair is another suburb known for its leafy streets, parklands, and modern housing developments. Located just a short distance from Penrith, it offers residents a peaceful residential setting while still being within easy reach of urban conveniences. St Clair is a popular choice for families looking to settle down in the Penrith region.
Rooty Hill is a growing suburb with a mix of established homes and new residential developments. Situated on the outskirts of Penrith, it offers residents a relaxed lifestyle. With its affordable housing options, Rooty Hill is an attractive choice for those looking to buy a house in the Penrith region.
If you want to buy properties in these areas, Ray White Diamantidis Group has some of the best and most affordable listings.
2. Affordable Housing
Penrith offers more affordable housing compared to other regions in Sydney suburbs. With a median house price of around $875,000, it’s lower than in neighboring areas. This makes Penrith an appealing choice for anyone looking for a wallet-friendly place to call home.
Here are the average property rates in this region:
| 4-bed house | $932,000 |
| 3-bed house | $835,000 |
| 3-bed unit | $660,000 |
| 2-bed unit | $525,000 |
| 1-bed unit | $462,500 |
3. Convenient Amenities
Penrith offers a wide range of amenities and facilities, including schools, shopping centers, parks, and recreational areas. Having essential services within easy reach can make the location more convenient and simplify your daily life.
Whether it’s running errands, looking for leisure activities, or attending to family needs, Penrith’s convenient amenities make it a practical and comfortable place to live. Penrith is also perfect for families with kids, thanks to its many family-friendly amenities.
4. Investment Potential
Over the past few years, property prices in Penrith have been steadily increasing. As more people move to the area, the demand for properties continues to rise, driving up prices. This makes Penrith an excellent location for investors looking for long-term capital growth.
Buying a home in Penrith not only provides a comfortable living environment but also offers potential financial benefits in the long term.
5. Good Rental Market
Even if you don’t plan to live in your Penrith property, it can still be a great investment. The rental market in Penrith is robust, with high demand for rental properties. Finding tenants for your property can provide a steady source of passive income.
In Penrith, houses rent for about $520 per week, which gives you a rental yield of 3.3% each year. Units also go for around $460 per week, with a rental yield of 4.7%.
So, these are the top 5 reasons that make Penrith region one of the best places in Sydney to invest in properties.
