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QLD Identifying public housing (Logan)

Discussion in 'Where to Buy' started by Sameer Talwar, 4th Jul, 2015.

  1. Sameer Talwar

    Sameer Talwar Member

    Joined:
    24th Jun, 2015
    Posts:
    8
    Location:
    Sydney
    edit: maybe this should go in General Property Chat?

    Hi all,

    Currently looking around the Logan area for my first IP. I've read on numerous posts about the prevalence of public housing in certain suburbs within the council, namely in Kingston.

    My questions are:

    1. Should I avoid buying a house that is currently one, or was previously one?
    2. Should I avoid buying on streets that appear be predominantly made up of public housing?
    3. Did you buy on a predominantly publicly housed street and have any regrets/learnings? Would you do it again?
    4. Do you avoid public housing or get excited by the opportunity to buy something that other investors may turn their nose up at? Why?
    5. I am based in Sydney, are there are obvious give-aways in identifying a house or street that is made up of public houses?
    6. Are there any (free/cheap) tools available to identify these?
    My short-medium term strategies revolve around yield first, CG second. As my first IP, I am not too keen on jumping on the reno bangwagon just yet. Certainly this is something that I will look at in my next purchase but as I am expecting to make mistakes along the way I would like to take things one step at a time as I continue to absorb, learn and execute.

    Thanks so much. I've been lurking for a while and have read up as much as possible before asking questions. Perhaps there is more info on the SS forums.

    Cheers
    Sam
     
  2. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

    Joined:
    19th Jun, 2015
    Posts:
    1,236
    Location:
    NSW
    1. No
    2. Yes
    3. No. Although I did buy in the privately held end of a street that had housing comm down the opposite end. That purchase has doubled in value over the last 3 years.
    4. Avoid. Affects potential resale.
    5. I find ownership details in Pricefinder or RP Data but if I did not have this access, they all look similar and have the same letterboxes. HOWEVER I was in such a street last Saturday and even though visually I would have picked it as housing comm it was all now in private hands after being sold 10 years ago. Only 3 in the street had renovated.
    6. No, there is no free lunch.
     
  3. sash

    sash Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    3,214
    Location:
    Sydney
    I have bought ex housing commission in Woy Woy and Barrack Heights....for 263k and 242.5k respectively.

    The 263k purchase is now well over 500k

    The 242.5k is now around 420k plus.

    There is very little commission stuff in these areas now...as for Kingston...I would avoid that area in particular. Sure you can make money...but there are better part of Logan with less headaches.

     
  4. pugstar205

    pugstar205 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    109
    Location:
    Brisbane
    Hi Sam,
    I recently posted this link on a different thread: http://www.hpw.qld.gov.au/Housing/S...itiatives/Pages/Logan-Renewal-Initiative.aspx

    Essentially, the total number of public housing will increase in the Logan LGA in future years. However, what I think will happen is some of the older detached housing will be sold or bulldozed and a more contemporary alternative built in its place. If recent examples are anything to go by, it will have a better curbside appearance and be less obvious as government housing.

    What I find interesting is the number of properties to be built – 2,600 with 800 of those to be social housing in addition to the 4,900 already there. Clearly there is no intention to lower the number of social housing.
     
  5. Befuddled

    Befuddled Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    251
    Location:
    Sydney
    There's an entire street near my partner's mum's home that's being excavated in Revesby. My guess is it's for public housing.

    I don't understand why a lot of this public housing stuff can't be made medium or high density. It's a privilege to live in a house, not a basic right. The fact that low density townhouses/houses albeit on small blocks are being built for public housing is so short-sighted...

    Say you knock down a street of 10 houses on 500sqm blocks down and replace them with 20 x 250sqm houses or townhouses. Yes it's going to house maybe 20-30 more people but is it worth the cost?
     
  6. RetireRich101

    RetireRich101 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,312
    Location:
    Sydney
    There are approx 10% HC stock in Kingston, Logan Central and Woodridge. There might be certain areas are bit more dense, but are generally randomly scattered, according to rpdata map.

    Zillmere has 9%, Chermside has 6%, but that didn't hold back in price increase.

    Mt Druitt surrounding 2770 has much higher % stock, it rise with the Sydney tide, infact 2770 outperform Sydney in the last few years.

    My view is that % will not decrease over time, as there are evidence QLD HC is selling off old stock, buy newer or build new stock, to reduce their maintenance bill.

    Deception Bay has approx 6% HC ( a lower than 4114), but crime rate is similar or higher?
    HC does not necessarily equate to the crime rate in the area, but merely an indication that area is rough/low social economic..

    caveat note: % data HC is from my DD via rpdata sifting through HC ownership divide registered dwellings. BA in the area can validate data.
     
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