Kingswood and penrith ; safety issue

C

christine33990

Hi all,

Having a small amount of budget means that I have limited areas to pick from. After checking several affordable suburb , I came accross properties at the outer west area ;one at penrith and the other one at kingswood. Both properties are at a good range of price, the penrith one is a newly-build apartment costing 320.000 and the kingswood one is a newly-build townhouse costing 355.000. What is my biggest concern now is the safety issue at both areas as I am not so familiar with them. any comment or opinion about those two areas will be highly appreaciated.

Thanks

BTW, I am from sydney CBD .
 
Are you going to live in it and if so what are your needs?

Do you have family and kids?

It would probably pay to disclose the location of the properties because even if a suburb has a bad reputation, there are good streets and not so good streets
 
the property will be an investment property and there is a very small possibilities that I will stay there. the location of the property that I am looking for is at rodgers st (kingswood) , high st ( penrith)
 
Good Buy's in Sydney

Hi!

I read your mail in intrest. I am very new in IP market & we are about to close on our first IP.

According to my analysis, one of the most important criteria is buying a property at "right value". I have found buyers agencies a very good option as they are always out in the market & can provide you with good options.

For example we are making a offer for a unit within 20K radius of the city new 2 bed units, around 250k with decent rental returns.

What I suggest is that keep your options open, consider IP as a investment and try to find better value in your initial buy.

Good Luck!!
 
My wife grew up in Rodgers St Kingswood so I know the area quite well. In terms of safety, it's a reasonably safe area, but I'd say Penrith itself is probably safer.

At $320k and $350k, you can buy a house anywhere on the train line between Werrington and Blacktown.

The rental returns in the Penrith area are relatively low.
 
Kingswood is a shocker. Penrith is better. But for that money you have a lot more choices. Free standing houses for one.

What happened to so called booming rent prices?:rolleyes:

garbage said:
My wife grew up in Rodgers St Kingswood so I know the area quite well. In terms of safety, it's a reasonably safe area, but I'd say Penrith itself is probably safer.

At $320k and $350k, you can buy a house anywhere on the train line between Werrington and Blacktown.

The rental returns in the Penrith area are relatively low.
Click to expand...
 
Thanks for the reply,

The reason why I am so interested with both properties is because they are both brand new, there is not many new properties in that area, besides I am looking for something near penrith as I heard that the area is growing. As an investment property , I wish I could earn higher capital gain after 5 or 6 years. If the area does not have a very bad criminal issue, then I would not mind paying 320.000 on a 2bed +1 study ,1 bath apartment.

I have also been looking at other suburb but could not find something as new and cheap as the one in penrith, plus the strata is pretty low as well.
Any idea on which suburb ( kingswood or penrith ) that is best for investment?
 
Kingswood and Penrith

Hi there,


I know the units you may be referring to in Rodger Street, Kingswood . The units are walking distance to the University of Western Sydney campus, teh TAFE, 100m metres walk from Nepean Hospital, 200 metres walk to the Kingswod railway and within 2 kms of Penrith CBD. Rodgers street near the Hospital is OK, however, one thing that detracts from the area is that you have a large methadone clinic at the hospital and you will see a steady flow of people coming off the train station daily walking past your unit heading to the hospital. Those same people often like to also visit other peoples homes and cars.

On the positive side , there is also a new precinct being planned at Claremont Meadows near the university which if it goes ahead will be pretty big for the area. The university is expanding and will be one of the biggest learning centres soon.

High Street, Penrith

High Street Penrith is good area with large number of unit complexes in the area. Plenty being advertised for rental and sale lately though. High street basically runs through the CBD past Westfields and towards Emu Plains, Panthers etc. demand and close to the CBD.

Oversupply with Penrith may be an issue. However, if you are renting it out, Kingswood will always have someone in it with the Hospital and University within walking distance.

If crime is your main criteria - Kingswood has more than Penrith. But long term potential Kingswood over Penrith with the reasons I mentioned above.

Like everyone on this site, we all have something to give and it all adds up the big jigsaw at times.

cheers and good luck
 
I'm with Parra1 on this. If I had to pick something in outer Western Sydney area, it'd be Kingswood as well due to the very same reasons listed (hospital, trains, uni). He is right too that there are potential oversupply issues. There'll be many new properties coming on board when that 'waterfront' area of Cranebrook is developed. Plenty of land all over the place. Rental yields are very low in the Penrith area, and I'd imagine they'll come down further with a bigger supply of brand new properties.
 
You guys reckon it is better to buy a townhouse or unit around this area for investment?

Most people seem to live in townhouses however unit seems to be cheaper but having a better rental return (probably due to growing demand on units?)
 
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