Whats Happening in Penrith
Penrith is the last place in Sydney where there is genuinely affordable housing. For this reason there is a significant amount of demand for units in the region and activity is up. Penrith is also set to benefit after the announcement of the second Sydney Airport at Badgery’s Creek. Once the first dirt has been turned on this project Penrith is the closest centre so there will be a peak in demand and development for this area. There is a lack of accommodation in Penrith so opportunities are available in the area to capitalise on the new infrastructure. Combined with the affordability of the region we believe there with be significantly stable growth for Penrith in the coming years. Knowing the right Penrith Builders will be important!
People from this area are very proud of their region and tend to stay close to Penrith throughout their lives. This results in a lot of downsizing. The land holders or larger lots with a big house owners are selling but staying local. This demographic is also increasing demand for apartments and townhouses in Penrith and surrounding areas like Kingswood.
The NSW Government housing affordability package includes incentive for first home buyers to avoid stamp duty on homes below $650k. Penrith is probably the last place you can find a 3 bedroom home for less than $650 therefore we predict there will be a lot of movement to this area. It is one of the few locations that first home owners can buy within commute distance of Sydney and avoid paying stamp duty.
Penrith Construction Costs
Builder solutions have some excellent townhouse and apartment builders in this area. They are the best Penrith builders available. We know the builders who have built the largest basement for a townhouse project. We have townhouse builders in Penrith who can build for below $240k per unit. The construction costs for apartments in Penrith can range from $250k to $370k per apartment depending on the design. Townhouses can get lower than this if there is no basement and a straight forward design. Low construction costs and land prices allow for a much lower selling price bringing many first home owners to the area.
It can be very hard to find the right builder here though. With many Penrith builders working only on their own projects, the available builders is actually a small network. We know who these builders are and if they are too busy with their own projects. Builders Solutions knows the builders Penrith has that are actively seeking new contract work.
We also have builders who have worked in the surrounding areas like Kingswood, Blacktown, and Mount Druitt.