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Penrith is an expanding city with numerous surrounding suburbs. Penrith itself is generally a built up area. It has units on both the northern (lemongrove area) and southern (Derby st area)side of the rail line. The remianing homes in these areas are generally older homes, town homes and some housing commision to the north around illawong ave which i would avoid, and around the penrose cres area to the south. While these areas as well as the kinswood area are great for investments due to their high yield and proximity to the uni and hospital and cbd. The fact that these are built up areas, and they are in the way of the cities progress can bring with it some anti social behaviour. The Derby streeet side is generally more expensive. There are however some lovely homes in very quiet streets in the built up areas but do your research.
The better suburbs for owner occupiers will depend on budget and on the lifestyle you want. If you are looking for acreage you are spoiled for choice. Castlereagh, Mulgoa with its village are lovely and Orchard hills is close to the city. North Cranebrook, Llandilo, Wallacia and silverdale are cheaper options but still fine. For residential my pick is the riverfront properties on Nepean avenue in penrith, or anywhere in that Ladbury/Nepean pocket it is all excellant, and in my opion Nepean avenue is the regions best street. There are also some prime properties on river road Emu Plains. The closer to the river, the more expensive, there are plenty of knock downs near the river. cheaper houses are generally near the train line Emu Plains is a lovely place to bring up a family. Leonay around the golf course is brilliant i love this area. There are plenty of lovely properties. Lapstone can give you views of the Sydney CBD. Glenbrook with its lovely village feel and the varity of housing is also excellant. Mulgoa has a lovely residential village. I would recommend any of these areas. They to me are the pick of the city and offer everything you could want. There can be traffic into the cbd in the peaks around the freeway and victoria bridges.
South Penrith and Jamisiontown are also good and affordable. There are plenty of really quiet streets in these areas. My pick for south penrith is south of Smith street and west of about Fragar road. South penrith is close to penrith cbd and free of trafic into it. It has older homes that are being renovated. The pick for Jamisiontown is the small pocket west of Mulgoa road Anakai drive its quiet close to the cbd, river and affordable.
Glenmore park, stick to the frindges both northern road or mulgoa road ends. AM traffic out of the estate is a punnish. There are some very nice houses in blue hills which is my pick and a new estate selling now will provide a second exit onto the northern road. The majority of rentals in this estate are towards the town centre Woodlands drive and the Lakes drive.
Cranebrook to the north of the city has new homes at the waterside estate, near the white water stadium and at jorden springs on the former Adi site. There is a pocket of housing commision in cranebrook near Beacroft place area which i would try to avoid. With cranebrook eithier build new or go to the norther end of the suburb near the acerage. There are some quiet streets in the rest of the area. Traffic into penrith at around 5PM around Jane street is bad.
There are plenty of other areas with quiet streets that are affordable like the werrington downs and Claremont Meadows areas, just do your research.
Penrith is a lovely place to live with so much to do. There are about some large parcels of land up for redevelopment over the next ten years that will transform the city. They are Parkview, north Penrith army land, the lakes scheme near the regatta centre and the paceway. Penrith is a great family city. It is an affordable part of sydney that has great private and public schools, performing arts centre, university, hospital, all the sporting facilities you could want, boating on your doorstep, a national park, It has quit villages, rural estates, waterfront homes, cheap fixerupers, homes to knock down and new land.