Katoomba, NSW offers you more afforable real estate prices -- that is, cheaper houses and apartments for you to buy or to rent -- compared with the western Sydney suburb of Penrith at the bottom of the Blue Mountains or in the rest of the city of Sydney.
Katoomba is located in the upper Blue Mountains, and is about 30 minutes by road or by train from western Sydney (e.g. Penrith, Emu Plains). Thus many Katoomba residents find it possible to commute to work in the Penrith area.
Katoomba is a relatively brisk climate (by that, I mean it is relatively cold in winter). Its lively cultural milieu (including interesting theaters, antique stores and bookstores) and many retired and active artists and academic adds to the unique Katoomba culture.
Currently (January 2011) Katoomba's house and apartment prices are as follows:
When most people talk of buying real estate in Katoomba, they are referring to South Katoomba, that area of Katoomba that is south of the railway line. We will discuss this area first.
Currently the average house price in South Katoomba is around $A330,000.
Prices for houses start from $A200,000 for a 2 bedroom cottage which you could call a renovator's dream. For around $A225,000 you will get a much more liveable 2 bedroom cottage.
For $300,000 you can buy either an early 1900s house (particularly popular with buyers at the moment) but which would need some work, or a 1970s two bedroom brick veneer house in good condition.
Prices can be a lot more for better construction, size and location -- a house in Abbotsford Road sold recently for $A1,135,000. Talking of location, houses near the scenic areas (e.g. Echo Point) tend to be higher.
South Katoomba is near the shopping center and is the first area of Katoomba to be developed. It is also near the world-famous natural attractions such as Echo Point and the Three Sisters. For this reason, South Katoomba is the most expensive area of Katoomba, and more expensive than South Katoomba, which we discuss next.
On the other hand, North Katoomba -- the area which lies north of the railway line and which was developed in the 1950s -- offers houses at the more affordable end of the spectrum (around $A30,000 cheaper than houses in South Katoomba).
Flat (Apartment) Prices
There are less flats in Katoomba but houses. There are two main areas of flats in Katoomba: first, a number of Art Deco apartment blocks, built in the 1930s, located near Echo Point; and, secondly, some flats in the area of Main Street.
The average price of a flat or apartment in South Katoomba is currently $A207,000.
The lowest price that we found for a two bedroom unit was $A195,000.
Flats at the top end of the market can cost a lot more. For example, a flat in Katoomba Street recently sold for $A265,000.
Again, the bargain seeker would do well to look at North Katoomba, although there are not that many flats/apartments over there.
If you prefer to rent, you can find a typical 3 bedroom house for around $A320.00 per week and a typical 1 bedroom flat will cost you $A200.00 per week.
Nearby Areas to Katoomba Worth Considering
Nearby Leura and Wentworth Falls (down the railway line towards Sydney) and Medlow Bath and Blackheath (up the railway line towards Lithgow) are just a short drive away.
Katoomba, NSW - Katoomba - Tourist Attractions, History, etc.