QLD Buying Land and Building in Loganlea

I was looking for a place in SEQ to purchase land and build, so investigating Land and House+Land packages.

I'm thinking Loganlea is a really good spot, because of a few things:
- It's where the hospital, shops, schools, and Griffith Uni are
- The Loganlea train station is an EXPRESS stop, so the airtrain goes from there to southbank in 30mins stopping only at Altandi in between
- it's adjacent to the Meadowbrook Master Plan which will add value to properties in the local area

Meadowbrook Draft Master Plan - Logan City Council

What do you guys think of small lot lands there close to the train station for $210-225k for ~350m2 e.g.:

170 Haig Road Loganlea Qld 4131 - Residential Land for Sale #201496450 - realestate.com.au

Lot 16 46 Spruce Street Loganlea Qld 4131 - Residential Land for Sale #201523234 - realestate.com.au

 

Seems like a small plot size ...How much moola do you have? Maybe purchase a spiltter further in, sell half off etc.....

 

I would rather buy something like this
Sold Price for 17 Catalina Street Loganlea Qld 4131

much bigger block size
much closer to station
zoning
cash flow positive from day one

 

Yeah, but I thought anything > 300m2 is a bit "overkill" in the sense it's not necessary to build a 4 bedroom 2 bath house.

Like I could build this for $155,600 on one of the blocks for a 4/2/2

Dixon Homes - Meet Our Fans

So say I go for the Spruce st land for $225k + $156k = $381 for a brand new 4/2/2 in LOGANLEA (plus stamp duty etc.)

 

Good point. So but that's a bit like apple and oranges in the sense it's an old house and not a home/land package where you can take advantage of grants + depreciation etc. But you are right, both will cost roughly the same eh. ~$380k.

 

$156k to build a 4/2/2??
That's the price for a granny flat

 

Yes why are Dixon cheaper than other builders? Is it because a lot of costs are not included?

 

Because the pricing listed on their site is just bare bone. Does not include blinds, overhead kitchen cabinetry, site cost, landscape, concrete, connection, council lodgement

 

Wow

 

Oh that's unfortunate. Ok so real cost would be like $200k for a 4/2/2 including the above?

Either or, what do people think of this land location, I mean anywhere has schools and shops but this has:
- express rail
- hospital
- uni

Isn't $225k geared for capital growth coming up because of the utilities around the location?

 

Griffith Uni is not at Loganlea. There may be a small campus there, but the main Uni is at Nathan.
Marg

 

Yeah fair point. It's a smaller campus, but still a uni campus for the "Official Uni of the Gold Coast Commonwealth Games"

Likewise Logan Hospital isn't the huge tertiary centre PA or RBWH is, but point is valid, it's a tier down.

 

Also, I heard that logan city council is really relaxed with Dual Occupancy homes now in terms of what land size is needed. There have been some built on 350+m2 apparently, perhaps that's a good avenue to explore

 

Sounds good, but deals like that are few and far between at the moment in Logan.

 

FYI, 17 Catalina was passed in twice at auction before it was eventually sold at 380k.

 

Lol... nobody buys at auction in Qld. Maybe that's the best way to actually buy a property.... passed in auctions.

 

Qld is not that popular after all.

 

I think if people knew it was going to rent for $550 a week it would have sold a bit quicker especially considering the zoning

 

The under 400k zoned loganlea is still a good buy IMO. When u look at closely, the zoned property arnt that many. some agents are listing for over 400k to test the water but these listing will stay there for a while.
When developers and land bankers buy these, they don't necessary build them straight away as yield hold them up. Numbers stack up when loganlea house median goes pass mid 400k which I anticipate this to be 3-5 years away.
The non zoned / older properties in the low 300k will also do well as it becomes fewer supplies when the zoned development kicks off

 

mate if you're buying land in Brisbane I'm building up there. I've got a turnkey package at 185k for a 4/2/2 with good specs.. Got a few of us involved so getting good discounts.. If you're keen to jump on board let me know we may be able to get even further discounts..