http://www.theaustralian.com.au/news/property-market-booming-in-penrith/story-e6frg6n6-1226857936536
Buying now you would want to look for the subdivision, granny flat potential properties. The prices have gone up since the start of last year and are starting to flatten out. I bought in jamisontown in 2005 after the last boom and only saw an increase in the last 18months! it was great to see it go up!...
After renovating and tossing up whether to sell or rent it the real estate suggested giving it 6 months as there might still be a little left in it. We may move back then. The best areas are leonay, emu plains then Jamisontown/sth penrith. An area I think would be good is lemongrove, close to the station, cbd plus near the new thornton estate. There are old orignal properties with good blocks and potential for an update.
As for growth i think the last 9 years was fairly flat but i think the new ~5 years there may be more steady growth as there is a fair bit going on around the place. council seems to be more proactive and the Panthers monopoly is booming! look into what they have going on, the stages have been approved. they will be kncking down the maccas, kfc, fast food section on Mulgoa rd and building commercial offices (3 story) plus a "main street" with eateries shops etc and a shopping centre on par with the Lennox at EMu Plains (supermarket and ~13 shops??) Plus a over 55s village out the back and more! (see penrith council website)
Where we sit in Jamisontown opposite Panthers id like to think in 10 years ill be going back with a sledge hammer to the house as it will be re-zoned and knocking down my house to build multiple of something, plus the neighbours house too! I never did like them!
As for subdivisions maybe try St Marys, plenty of massive blocks there.
Kingswood - un students would make up a small % of tenants. Big family area.
For capital growth id be looking for an older place or larger block between, Maxwell st (south) Northern Rd (east) Mulgoa rd (west) and Correen Av or even Andrews Rd (north).
Having grown up there you become biased i guess but they are the nicer areas when you would be able to up grade a shitter to a nice stand and get the more interest without overcapitalising in other areas.
Buying now you would want to look for the subdivision, granny flat potential properties. The prices have gone up since the start of last year and are starting to flatten out. I bought in jamisontown in 2005 after the last boom and only saw an increase in the last 18months! it was great to see it go up!...
After renovating and tossing up whether to sell or rent it the real estate suggested giving it 6 months as there might still be a little left in it. We may move back then. The best areas are leonay, emu plains then Jamisontown/sth penrith. An area I think would be good is lemongrove, close to the station, cbd plus near the new thornton estate. There are old orignal properties with good blocks and potential for an update.
As for growth i think the last 9 years was fairly flat but i think the new ~5 years there may be more steady growth as there is a fair bit going on around the place. council seems to be more proactive and the Panthers monopoly is booming! look into what they have going on, the stages have been approved. they will be kncking down the maccas, kfc, fast food section on Mulgoa rd and building commercial offices (3 story) plus a "main street" with eateries shops etc and a shopping centre on par with the Lennox at EMu Plains (supermarket and ~13 shops??) Plus a over 55s village out the back and more! (see penrith council website)
Where we sit in Jamisontown opposite Panthers id like to think in 10 years ill be going back with a sledge hammer to the house as it will be re-zoned and knocking down my house to build multiple of something, plus the neighbours house too! I never did like them!
As for subdivisions maybe try St Marys, plenty of massive blocks there.
Kingswood - un students would make up a small % of tenants. Big family area.
For capital growth id be looking for an older place or larger block between, Maxwell st (south) Northern Rd (east) Mulgoa rd (west) and Correen Av or even Andrews Rd (north).
Having grown up there you become biased i guess but they are the nicer areas when you would be able to up grade a shitter to a nice stand and get the more interest without overcapitalising in other areas.
