HOUSES in Penrith are considered to be some of the most affordable in Sydney, with typical prices of freestanding properties in the range of $350,000 to $380,000, metro media reported recently.
Local real estate agents suport this.
Sandy Almazan, the owner of Ray White agencies at Werrington and Glenmore Park, said most suburbs around Penrith were more affordable for home buyers than in areas closer to the city.
"The average first-home buyer wouldn't be able afford a house closer to the city," he said. "For a freestanding house around Strathfield prices can start at $600,000 or more."
"The closest they could afford would be a unit or an apartment — and how do you raise a family in a two-bedroom apartment?
"You'll find better value out here: a freestanding house with a nice big backyard.
"When you compare Penrith as whole, we certainly have affordable houses.
"And impressive homes too — bigger homes with bigger yards. A family would get far better market value here."
Mr Almazan said there was no [meaningful median price] for houses across the region, as prices varied between suburbs.
"There are a lot of suburbs that make up Penrith," he said.
"I'd say the average sale price for a free standing house would be $350,000 to $380,000.
"The average price in Werrington County/Werrington Downs varies from $330,000 to $340,000. Werrington is an older suburb, so prices generally start from $300,000."
"In Glenmore Park we have both extremes.
"On one side, entry-level prices would start from $335,000 for a modest freestanding three-bedroom home, right through to $800,000 for an executive-style home featuring four or five bedrooms, multiple living areas and a pool.
"The 'average' sale price in Glenmore Park would be approximately $435,000."