Jordan Springs – 10 Useful Facts for Investors
As I mentioned in the last article I have had a number of clients buy investment properties at Jordan Springs near Penrith. If you were looking at buying here it is very important that you do your own research and come to an informed decision for yourself. I thought I would give you a little kickstart by giving you some facts about the market here.
Jordan Springs Investor Facts
- It is estimated that about 6,500 people will live in 2,450 homes in Jordan Springs.
- Jordan Springs is located near the M4 and the Western Sydney Train line. There will be a bus route set to carry passengers to the Penrith train station. This will provide residents with excellent accessibility.
- House prices rose by 3.7% between September 2010 and September 2011 in the Penrith area.
- Capital growth has averaged 2.3% over the past 5 years in the Penrith area. This is typical of a flat market, however it should be pointed out that many areas of capital cities other than Sydney have actually fallen in value.
- With interest rates heading downwards at the moment we are expecting more upward movement in capital growth in the coming months.
- Cranebrook, which is the closest and most comparable suburb to Jordan Springs, has received 9.3% gross property return. This is a combination of the rental return and capital growth.
- 27.3% of the Penrith Local Government Area live in a rental property.
- The median age in Penrith is 32.
- The median income in Penrith is $1,147 per week or $59,644 per year.
- The median rent for a 3 bedroom house is $360 per week and for a two bedroom house it is $290 per week.
Article by James Parnwell
The information above is based on averages across the Penrith area, so the actual return on investment that you will receive will be dependant on a whole host of factors. If you would like some further information on anything related to Investment Property or Investment Finance please click contact us. One of our team of experienced Investment Property coaches or Investment Finance Mortgage Brokers will be happy to reply to you with some specific and helpful advice…
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