St Marys investors on the runway to property success
Media release - 21st September, 2015
Investors are dominating open homes in suburbs such as St Marys, Willmot, Lethbridge Park, Werrington and Claremont in Sydney’s outer west, according to leading agent, Peter Diamantidis, Sales Manager at Raine & Horne St Marys.
“St Marys is approximately 19 minutes from the new airport and it seems that a train to Badgerys Creek is on the drawing board.”
The smart money has also realised that the St Marys region offers the prospect of decent capital growth when compared to suburbs in Sydney’s Inner-west, where entry-level houses start at $1.7million and $700,000 will buy a 2-bedroom unit, according to Mr Diamantidis.
“In comparison, it’s possible to pick up a house in St Marys for $550,000 or a unit for $330,000 and still enjoy a positive rental return,” said Mr Diamantidis.
In the wake of Penrith Council’s decision to release its new LEP on 25 February 2015, developers have also taken a renewed interest in St Marys.
“The new LEP has attracted developers to St Marys to build apartments and townhouses,” said Mr Diamantidis.
“We have seen the development of our first high-rise building of 6 levels in St Marys, and there are plans for similar buildings that have been lodged with council.”
As a consequence of development activity, there’s been a spike in off-the-plan apartment sales, according to Mr Diamantidis.
“Off-the-plan sales will continue to increase as new 2-bedroom apartments are selling for less than $490,000 in St Marys and 3-bedroom townhouses start from $520,000.
“St Marys is a hot spot for many developers, investors and owner-occupiers as they can see the potential afforded by the region and its expanding infrastructure, which underpin long-term capital growth.”
For further media information contact:
Peter Diamantidis, Sales Manager, Raine & Horne St Marys, on 0404 051 702
Andrew Harrington, National Communications Manager, Raine & Horne, on 02 9258 5400