Western Property December 23 2022

• The inclusion of a Woolworths Metro, medical centre, pharmacy, childcare and other specialty retail stores on the ground floor, enables residents to take full advantage of the modern luxury convenience Glenmore Village has to offer

• Modern luxurious kitchens and timeless bathrooms

• Situated opposite a primary school which is currently under construction

• Close to M4 and sporting grounds

glenmorevillage.com.au

A Penrith apartment has sold for an eye-watering $2.33 million.

The penthouse apartment is part of the East Side Quarter (ESQ) development’s third stage.

Sell-out success and record breaking sales have CABE’s ESQ development leading the way in redefining a new luxury

apartment market in Penrith. Following the success of the first two stages, the launch of Stage 3, called ‘EDEN’, was snapped up by savvy buyers in an impressive five months.

Selling 142 apartments and drawing in $87 million in total sales, EDEN incorporated two ultra-exclusive Penthouses which are not only setting a record for the area but also elevating the way people live in Penrith.

“During the first three stages we identified a growing demand from local buyers seeking ‘house-sized’ luxury apartments and in EDEN we have delivered the ultimate in luxury Penthouse living,” said CABE CEO, Andrew James.

“Penrith deserves the same quality in luxury living as seen in others parts of Sydney and we are pleased to announce both penthouse apartments sold for $2 million and $2.33 million. These are the highest

apartment sales on record for the outer west.

“What has been really exciting for us is the interest from the local area. These buyers have the ability to live anywhere yet choose to remain in the Penrith area and with the ESQ project they now have the standard they aspired to in their own backyard.”

With an obvious demand for high-end living, CABE is bringing an exciting new product to stage four of the ESQ Development, “The Residences”.

These architecturally designed “Homes in the Sky” are set to cater for the want of luxury living in Penrith whilst taking advantage of the community lifestyle ESQ provides.

“ESQ is leading the charge in crafting the new future of architectural design, lifestyle and amenity in not only Penrith but the Outer Western Sydney area,” Mr James said.

THE TIME TO SELL?

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What is so great about this property?

Overlooking Julia Reserve and Creek Metro Central, it is located within the Town Centre of Oran Park. This property is within easy walking access to all of the amenities of Oran Park, including The Podium Shopping Centre, Splash Park, Skate Park, developing Leisure Centre and Oran Park Tavern.

Who does this property suit?

At 144m2, this impressive three-bedroom ground-floor apartment would certainly suit a couple or a young family wanting to get into the property market.

With its large sun-drenched northwest facing courtyard, it presents the perfect opportunity to keep an eye on little ones.

Also, people who are thinking of downsizing will appreciate the quality fit-out and the convenience of all the close amenities.

Tell us about the suburb the property is in?

Oran Park is the fastest-growing master-planned community in NSW. It also has the newest town centre in the state with a shopping centre and

its expanding stages, library, developing leisure centre and town park. There’s the soonto-be-developed lakes district, and there are also numerous educational facilities from child care to university.

PENRITH

PENRITH

Q) WHAT’S HAPPENING IN TODAYS RENTAL MARKET?

We have been hearing about the “rental crisis” for almost 12 months now across mainstream media. The property management team at Stanton & Taylor Real Estate, Penrith’s largest leasing agency, know that Penrith and surrounds have been no exception to what we have been hearing. So, what is happening in the local rental market? Several things.

With rising interest rates and less new investors buying property, with added pressure on home owners and first home buyers taking longer to enter the buying market, plenty of people find it more affordable to rent than to buy. The result - a simple case of less supply and more demand for rental properties.

In the past 12 months we have seen rents on average increase between 10% and 15% and vacancy rates have steadily remained below 1% for most of 2022. If you haven’t had success locating a property as a renter or locating a quality tenant for your property, contact Stanton & Taylor to discuss how we can help solve the rental equation.

Locals looking after Locals

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From our highly trained team of professionals to our proven marketing systems, we are dedicated to making the process of selling or leasing your home as easy and rewarding as possible with a determination and focus on obtaining the best result for our clients.

Here at Better Homes & Gardens Property Solutions, our job is to guide you through the process of selling, leasing, or purchasing your home by providing professional advice, accurate appraisals, and constant communication to ensure you are kept updated and informed at all stages of the process.

If you are looking for an agent who is always willing to go above and beyond, with a total commitment to service you, then look no further and give us a call on 4739 4744 to discuss how we can help you realise your property dreams. Meet the team at Better Homes and Gardens Real Estate Property Solutions servicing all areas from Blacktown to Bathurst.

ST MARYS | ST CLAIR - AREA SPECIALIST

INTRODUCTION

Ray White Diamantidis Group is a customer- focused real estate agency which brings the right people together for the best results.

We have a strong understanding of the local market, extensive knowledge of what buyers and vendors need and a passion to see our community flourish through our Sell, Buy and Rent Smarter attitude.

Ray White Diamantidis Group provides a range of real estate services including residential property and investment sales, asset and property management, leasing, prestige property off the plan sales and development sites.

With Peter’s 20 years experience in real estate, combined with 120 years of Australia’s number one real estate brand, Ray White Diamantidis Group is the top performing agency in St Marys, North St Marys, Oxley Park, Colyton and Werrington. For

TIGHTENING THE BELT FOR THE HOLIDAYS

A majority of Australians are expecting to tighten their belts this festive season due to concerns about the rising cost-of-living, according to one survey that has come to the attention of Broking Breakdown

While we hope for all to enjoy Christmas cheer after what has been another challenging year, a survey conducted for the Sydney Morning Herald by Resolve Political Monitor found 66 per cent of respondents expected they would be buying fewer or cheaper Christmas presents and 57 per cent admitted they were finding it harder to make ends due to household spending pressures. Only 12 per cent thought they would spend the same or more, while 23 per cent were unsure.

On the bright side, the festive

season at least offers some respite for mortgage holders with the Reserve Bank of Australia (RBA) not meeting again until February 2 after whacking borrowers with eight consecutive monthly increases to the official interest rate in 2022.

But the fact interest rates will

not go up next month is no reason to over-indulge in celebrations. Inviting Scrooge for Christmas this year might not be such a bad move to prepare for what may be in store during 2023.

Reigning in the spending is probably a very good idea. We have found in recent months big problems with borrower serviceability as lenders have been tightening the screws on applicants unable to show they can afford even their current debt.

Our advice if you are planning to seek finance is to cut out as much unnecessary discretionary spending as possible. Reduce credit card debt and limits or close those accounts altogether. Finalise any buy now/pay later type facilities. It’s also a good move to payout and close any shorter-term finance facilities such as car loans and personal loans.

If you are hosting Christmas lunch this year, don’t be shy to ask your guests to help share the load by bringing drink, salads or deserts. Many families already do this and, in my experience, people are happy to share the load.

We wish all readers a Merry Christmas.

REAL ESTATE FLASHBACK