August 12, 2016
Nestled between Sydney and the Blue Mountains National Park, you will find Penrith, a dynamic city with a population of approximately 178,500. In the past few years, Penrith and its surrounds have enjoyed a healthy economic growth boom.
At the end of the first fiscal quarter of 2016, there is approximately $225.4M of new development and real estate projects here. Because of the increased interest and demand to move to this desirable area, much of the available funds are slated towards residential development. With over 65.8% of available funds earmarked toward residential development, it's a prime time to purchase real estate in Penrith.
There is so much here to offer residents of the area including the beautiful scenery and of course, the Blue Mountains National Park. Additionally, this is a community rich in performing arts, sports and a strong school system.
Real Estate Penrith - More Growth Ahead
Along with the push to keep up with the residential housing demands, there is more good news on the commercial development front. The economic outlook for commercial development, with approximately 24.6% of funds allocated, is extremely positive as the Penrith area continues to grow. Commercial and industrial developments, plans for additional job opportunities and plans to meet lifestyle demands are high on the priority list well into the future.
As for real estate in Penrith and surrounding areas, the average price of a new home is $596,000. The Penrith City Council has predicted a continued rise and projected growth for both vacant land and for home purchases. Real estate in Penrith is continuing to pull in good numbers in terms of house sales, which confirms the projection of this area to continue to be a desirable location now and into the future.
Because of the projected growth numbers, Penrith continues to be an attractive and popular location for those moving to the area, or upgrading to a new home. In fact, right now is an excellent time to purchase a new home, or put an existing home up for sale to upgrade into a larger one.
Purchasing a Home - How to Find the Best Home Loan Rates
While all of this is positive and exciting news for anyone looking to relocate to this area, it's even a better time to check in with a mortgage broker to discuss available rates and options to buy a home here.
If you are planning to move to this area, one of the best places to start is with a mortgage broker to help identify your home needs. One of the most popular questions when beginning a home search is how much you can really afford. A mortgage broker can help you figure out the answer to that question by discussing home loan options, rates and affordability for your particular situation.
It makes good sense to work with a mortgage broker who is more than familiar with the Penrith real estate trends and projections. A mortgage broker is here to help you shop around and find the most competitive rates. All of this is done for you at no charge, as the broker fees are covered by the lending institutions.
Contact Paul at Mortgage Choice Penrith before looking for Real Estate in the Nepean area
If you are a first time home buyer and unsure of the questions to ask or simply how to get started, contacting a broker such as Mortgage Choice right here in Penrith will save you time and money so you can focus on the most important goal of owning your home.
It all starts with a phone call. Contact Paul Holland of Mortgage Choice Penrith at 02 4789 0808. Paul can help you begin the process and discuss home loan options available to you. Whether you need to get pre-qualified before searching for real estate in Penrith for the perfect home, or securing the best home loan for your needs, contact Mortgage Choice today.