PRD Announcement: INTRODUCING PRD BLUE MOUNTAINS
PRD Announcement: INTRODUCING PRD BLUE MOUNTAINS
Hi all, I’ve got a bit of a different blog for you this month. We here at PRD Penrith are proud to announce our exciting new merger with Boyd’s Realty in Springwood.
The merging of PRD Penrith & Boyd’s Realty has resulted in our expanded venture…PRD Blue Mountains. Our brand-new arm will offer the best qualities of both PRD Penrith and Boyd’s Realty. The combination of Boyd’s exceptional customer service with PRD’s brilliant research department means that the potential within the Blue Mountains region can be appropriately realised.
Why Boyd’s?
When I was first approached by Angela Murphy about the idea of merging the PRD brand with Boyd’s Realty, I was really excited about the opportunities that I think it presents to both businesses. In the 35 years that I’ve been involved in the real estate industry, I’ve had many clients in the Blue Mountains, but I’ve never had the opportunity to put a real focus on the lifestyle that the Blue Mountains offer. We really want to honour all of the hard work that Boyd’s Realty has done over the years and implement new systems and procedures to complement the exceptional customer service that’s really been the backbone of Boyd’s Realty since it commenced.
The merger will be headed by existing Owner and Principal of Boyd’s Realty, Angela Murphy, alongside my wife & PRD Penrith’s very own Angelina Latty. The ladies have decades of history together; as cousins and coworkers, they’ve grown up working together in hospitality and bring that outstanding customer service to the new branch.
Why the Blue Mountains?
As with most of Australia, the rental yield and rental market as a whole has been on the rise alongside interest rate rises as investors reflect the shift in financial priority. The Blue Mountains saw a significant increase in rental yield, increasing 26% in 2021 and a further 8% in 2022, showing no trend of slowing.
Matching the market quite well, the mountains have experienced a steady incline in housing prices as the market continues to correct. After a pandemic boom of 33% in 2021's median prices, 2022 saw a further 10% increase in the mountains region, with a slower yet positive 1.07% increase in the last quarter alone. The growth in surrounding areas, in addition to the return to city working patterns, has shown the availability and choice in the mountains have expanded. This expansion continues alongside the preparation for the newer developments in the Penrith and Badgerys Creek areas. The current median prices reflect the lifestyle choices mountain life offers, and the trends directly correlate with the surrounding regions and their developing influences.
We look forward to the complete launch of PRD Blue Mountains and hope we come to mind when looking to invest or sell in the Penrith and Blue Mountains regions. Exciting times ahead!
If you have any questions, comments or concerns regarding the merger, please don’t hesitate to contact Angela Murphy (0418 203 427) or Angelina Latty (0425 259 155). They’d be more than happy to help. We also have some exciting plans for the office in Springwood, which we can’t wait to share with you all over the coming weeks.
