Who are buying in Penrith area?

[NPK]

Hi all. We have been looking on and off in Penrith area (South Penrith, Penrith, Kingswood, Jamisontown) for the last few weeks. It is going crazy there. Houses gone in the matter of hours not days. Any of you guys are buying there? Any of you guys are selling there. I have noticed that the vacancy rate has gone up a bit and the rent has gone down as well. Any other observations?

We want to buy as investment first and then move in after 3-5 years. Really do not know we should buy now or wait for a little while to see if it is going to calm down. Or simply just buy in Katoomba where the market is still quite flat.

Cheers.

 

[Shahin_Afarin]

Theres a couple of small devo sites there build 2 - rent one and live in the other.

 

[RetireRich101]

Penrith and surrounding got the tick box that investor/owner occupier want to live. Hospitals, 2 uni campus, tafe, a good selective school. On an express train will only takes 50min to the city.

The construction/widening of the northern road as part of the budget 2014 would draw a number of workers and demand accommodation to the area