Penrith isn’t Sydney’s “wild west” anymore and the market is proving it

For years, Penrith wore the old “wild west” label, overlooked, underestimated and (to many outsiders) undervalued.

But that version of Penrith is fading fast.

Today, the area is in the middle of a major transformation driven by population growth, new infrastructure and expanding retail, commercial and industrial activity. Add the momentum building around Western Sydney International (Nancy-Bird Walton) Airport (expected to begin operations in 2026)and it’s easy to see why Penrith is showing up in more property conversations than ever.

What’s changing in Penrith?

Penrith is increasingly being viewed as more than a “drive-through” suburb on the way to the mountains. It’s developing into a genuine Western Sydney hub with more jobs, more services, and more lifestyle options than many people still assume.

That shift matters because, over time, suburbs with improving amenity and stronger employment links tend to attract:

• Owner-occupiers who want convenience and liveability
• Renters looking for access to work and transport
• Investors seeking yield and longer-term growth (while acknowledging markets can rise and fall)

The numbers: prices and rents have moved

If you look at commonly referenced suburb profiles, Penrith’s property market has shown meaningful movement in recent years.

For example, one major suburb snapshot reports:

• Median house price: around $1.075m
• Median unit price: around $598k
• Median rent (houses): about $610/week
• Median rent (units): about $570/week
• Indicative yields shown in that snapshot are higher for units than houses (figures vary by source and timeframe).

(Accessed via realestate.com 30/1/26)

Units can sometimes appeal to yield-focused buyers (though they come with different risks and considerations such as strata, supply and long-term demand).

Why units are back on more radars

Penrith has also seen increasing attention on newer apartment product, including higher-end builds in pockets close to amenities. With units often showing stronger rental yields in suburb data, they can be appealing for buyers comparing cash-flow outcomes especially when house prices have run up.

That said, it’s worth doing your homework on:

• Strata costs and building quality
• Local supply pipeline (too much new stock can pressure rents/prices)
• The specific street and micro-location (in Penrith, this can make a big difference)

Western Sydney International Airport is a genuine “watch this space” factor for the region. Official communications indicate operations are targeted for 2026, with some materials referencing the second half of 2026.

Airports can influence employment, business activity and infrastructure investment but it’s important to be realistic:

• Markets don’t move in a straight line
• Not every nearby suburb benefits equally
• Timing and impact can vary widely

So the best way to frame the airport isn’t as a guarantee it’s as one of several tailwinds that may shape demand over time.

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Here’s the part that doesn’t show up in median price charts:

Penrith is not one market. It’s a collection of micro-areas with different buyer types, different price points, and different long-term prospects.

That’s why local expertise is such a competitive advantage.

Rod is born and bred in 'The Riff' Penrith and that matters when you’re trying to work out:

• Which pockets are attracting owner-occupiers vs investors
• Where tenants are competing hardest (and why)
• Which developments to scrutinise more carefully
• Where commercial interest is actually growing (versus just being talked about)

Thinking of buying in Penrith?

If Penrith is on your shortlist (whether residential or commercial) your next step is simple:

1. Get clear on your goals (live in, invest, business use, future flexibility)
2. Research the micro-location (not just the suburb median)
3. Pressure-test the numbers (rents, expenses, vacancy, strata, buffers)
4. Speak to a local who can tell you what the data doesn’t say

Get in touch with Rod today to talk through what you’re considering in Penrith and what to look out for.