Penrith has emerged as one of Australia’s leading investment locations due to its affordable housing options and close proximity to major transport hubs, shops, hospitals and schools.
Leading property resource, Smart Property Investment, released its 2013 fast 50 report recently, identifying the top Australian suburbs geared for capital growth this year, in which Penrith has a mention.
“Penrith is one of the fastest growing cities in Australia, with its population predicated to grow rapidly over the next 15 years,” said Fast 50 contributor and Positive Real Estate chief executive Sam Saggers.
“Located on the urban fringe, Penrith has become a sought-after location for families looking for affordable homes, in areas that are strongly supported by infrastructure,” he said.
The Smart Property Investment Fast 50 hotspots were selected based on a range of key indicators including population growth, demand for housing, income levels, employment, vacancy rates, previous capital growth and current gross rental yields.
“With expansive programs for the Nepean hospital and university, shopping centres and easy access to major arterial highways, Penrith LGA ticks all the boxes,” Mr Saggers said.
Several other New South Wales suburbs made the list, including the western Sydney suburbs of Blacktown, Macquarie Fields and Ingleburn and regional locations such as Newcastle and Bathurst.
