Get a property report and suburb profile for any property in Penrith

Penrith sits in Greater Western Sydney on the banks of the Nepean River at the foothills of the Blue Mountains, pairing a busy town centre with expansive riverfront parklands and lakes used for boating and walking. Housing ranges from older weatherboard and brick homes on tree-lined streets to newer suburban estates and apartment precincts clustered around Westfield Penrith and the transport hub. The suburb is home to 17,966 people, with a median age of 36 and a median household income of $1,397 a week; couples make up about 71.5% of families and one-parent families 25.2%. Homes are more often rented than owned, with renters accounting for 62.6% of dwellings.

Everyday life in Penrith centres on river recreation, shopping and practical suburban living. Local schools, sporting facilities including the Panthers precinct, and road and rail links on the Western line make it convenient for families and commuters. Significant projects under way include a multi-stage Nepean Hospital redevelopment with expanded intensive care and inpatient capacity, inclusion in a wider health and education precinct, planned transport links to Western Sydney Airport, major road and pedestrian and cycle upgrades, and planned improvements to the main library. Whether Penrith suits you depends on how much you value riverside access, shopping and strong transport connections.

Housing costs in Penrith sit notably above what local households earned at the most recent Census. Average house rent of $625 a week would take about 44.7% of a typical local household's weekly income at the last Census, and unit rent of $580 a week would take about 41.5% of that income. On the buying side, a median house price of $1,000,000 is about 13.8 times a typical local annual household income at the last Census, while the median unit price of $648,000 is about 8.9 times annual income.

On these figures both renting and buying would use a large share of what a typical local household earned at the last Census, with buying a house sitting particularly high relative to that income. Whether that feels expensive depends on your own income and circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Over the past 12 months Penrith saw solid upward movement in both prices and rents. Unit values rose 9.6%, a notable gain, while house values increased 7.4%. On the rental side, house rents climbed 7.8% and unit rents rose 5.5%.

Put simply, unit prices were the strongest performer for capital growth this year, while house rents showed the larger rise on the income side. Which of those outcomes matters to you depends on whether your priority is capital growth or rental income and on your own goals and circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.