Penrith Property Factsheet 1st Half 2018

The Penrith property market recorded a median house price of $695,000 and $500,000 for units in Q1 2018, representing an annual price change of -1.4% and -2.3% respectively. This signals a return towards more sustainable price growth, whereby a partial softening in median price is in line with the cooling in Sydney’s property prices.

In 2015-2017 strong median house price growth has been experienced in suburbs such as Werrington (15.8%), St Mary’s (13.9% growth) and Kingswood (8.1% growth). These suburbs are more affordable option when compared to Sydney, now is the time for buyers to take advantage and benefit from high capital growth.

Median rents in Penrith have experience a strong annual growth of 2.2% for houses and 5.4% for units over the past 12 months to Q1 2018, currently at $460 per week (house) and $390 per week (units).  Investors are benefiting from rewarding rental yields of 3.0% (house) and 3.7% (units), similar to that of Sydney Metro. Additionally, vacancy rates in Penrith are at 1.9%, much lower than Sydney's vacancy rate of 2.6%, presenting a more secure market. Investors are strongly encouraged to secure a property in Penrith’s lucrative market.

Penrith is set to see approx. $3.6B worth of new projects commence in the 1st half of 2018. The majority of investment (74.9%) will be focused on mixed-use developments, followed by $472.6M (8.6%) of commercial development which we deliver a great balance for sustainable growth. Approx. $94.1M (2.6%) will be invested into residential development, delivering an additional 962 apartments, 315 units and 133 lots. The abundance of development anticipated in Penrith will further improve liveability, employment and economic prosperity.