QLD How are your investments in Logan Going

Hi there, being general is tricky because it is so dramatically different. I think there will be different story based on the transport and time to CBD (or other major centres) rather than anything else. For me those areas that have good access will possibly be re-rated (MeadowBrook, Loganlea, Northern pockets of Woodridge and Slacks Creek, Rochedale South, maybe even Beenleigh, Carbrook), but I can't see a good outlook for those outlying areas (Jimboomba, Yarrabilba) in 5 years. I also think that the northern suburbs of the Logan Council area will perform like the adjacent Brisbane southern suburbs - why wouldn't they ... they are adjacent. Woodridge is an ugly duckling next to super areas like Kuraby and close to the chinese influenced Sunnybank region.

Diverse area = mixed bag.

Go where the transport is 1.rail; 2 Freeway; forget the buses except for the extension to the busway at Rochedale.

 

Interesting concept when you say go where the transport is and forget the buses, because Logan's train line runs a really ****** route and skips 99% of the region. The bus network around here is quite good, but admittedly it doesn't really seem great for getting into the city (unless you're around Springwood)- mostly for just getting around Logan, which isn't much help.

Meadowbrook is absolutely lovely and is in a killer area. Loganlea is going to be a really fascinating suburb because the council has been allowing some extremely poor developments recently, which I think might set back the gentrification long term? Eastern side of the highway is clearly going to do extremely well. I'm really curious to see how Woodridge, Logan Central, Slacks Creek and Kingston turn out because prices seem to be increasing but there's zero infrastructure projects or any other supporting improvements to the area. My personal money is on Loganholme and Tanah Merah.

 

Technically the certificate is not the requirement, it's only a record that the property complies with the requirements. Assuming the lease specifies that all water usage is payable, you should be able to acquire a certificate of water efficiency stating that the property complies with all requirements and has been compliant over the period of the disputed water charges. The only reason you'd get stuck is if the plumber said something needed to be changed to comply, then you definitely can't charge the old usage.

 

The house has been sold.
Access probably impossible.
Marg

 

An agent called me up yesterday to see if I was interested in selling my Rochedale South property as his clients (an investor) saw the pictures of my property and liked it.
He said the area was running really hot and he had 14 clients asking him to find and sell them a property in Rochedale South.

 

Agents often tell people anything to get the listing, I see a lot of people take on what agents say when soliciting for listings as gospel, do your own checks on what is happening where your IP is.

 

Someone must be on the ground in Logan though, how is Slacks Creek going ?

 

Spot on about the part that agents will do anything to get the listing.

Ever since I bought in Logan I literally receive weekly letters coming into my mailbox saying there's investors waiting and wanting to pay big bucks to buy in my street...and most of them are from agents that I haven't even dealt with before! So I treat it with a grain of salt.

Check online and sold listing and it will give an indication on what the current market is like. Better yet, go for a trip on the ground and get a feel at the open homes! Nothing beats attending inspections on the ground

 

Spoke to my PM about this last week, apparently rentals pretty quiet, confirmed by other agents too, but sales still solid.

 

Sounds like a time just before sales will go quiet (hope not)? Rentals being quite isn’t a good sign.

 

I have to admit, I've never seen rentals so flat in Logan. I noticed since January, it came on quite suddenly. We've had to reduce rents on most available properties to find quality tenants within 2-4wks of advertising (days on market has also increased).

I'll also add that it can be more difficult in Logan than other areas for PM's and Landlords to realize when the market is moving, because you still tend to get reasonable levels of enquiry when properties are overpriced- but you need to be able to identify that type of enquiry is poor quality (basically, bad tenants who will look at anything).

 

Seems to be in much of that part of QLD ?

Do you think it is because the home owners and new home buyers are moving from renting to owning, or, that too many mexicans bought investments up there ?

 

Ah Mexicans. Stop blaming the good looking, pationate and much harder working southerners. At least they have a hot leader. Not your ugly ass Trump.

Edit: this post is just rumblings of a middle aged young drunk man. Nothing is directed to no one.

 

There's a few theories.
- Lots of new builds are absorbing the quality tenants and pushing prices down.
- Mexicans moving into the local investment market, but no a corresponding increase in tenants.
- etc.

Nothing has really shown itself to be a blatant cause, so I feel like it's a combination of many factors coming together.

On a side note- I haven't seen any local figures to suggest all these fandangled government schemes are increasing rates of home ownership. If anything, rates of home ownership are still decreasing, though the effect is probably less pronounced in 'affordable' QLD than in Mexico.