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Information and Thoughts on Crestmead, QLD

Discussion in 'Where to Buy' started by Splash Brother, 26th Mar, 2016.

  1. Splash Brother

    Splash Brother Member

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    Hobart
    Hi,

    I was researching the Logan area recently. I am living in Tassie and was wondering what people's thoughts on Crestmead are as far as neighbourhood and future capital growth. Any information or thoughts would be greatly appreciated.

    Have read somewhere there are problems with youth and trail bikes around the streets? Anyone else heard or know of this?

    Cheers
    Splash
     
  2. MsAli

    MsAli Well-Known Member Premium Member

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    @Splash Brother - there are a number of threads on Logan / Crestmead. Do a search on here and on the previous Somersoft forums.

    What I personally don't like about the area is it's not as well located interms of transport and malls (just my take on it, others may disagree). To me it doesn't offer the same fundamentals than the other Logan suburbs on the train line. From speaking with local agents, it's the last to grow and the first to decline as well. Comes down to what you are trying to achieve?
    • Are you just getting into the market for a quick capital gain (lesser cashflow deals now)
    • Are you budget constrained? What has lead you to Crestmead?
    • Can you afford in a better area for better capital gain (given the returns are lower and the market has been rising)
     
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  3. gach2

    gach2 Well-Known Member

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    I personally find it a preferable suburb in logan
    After spending time in the area found that though msAli is correct in terms of infrastructure being poor (compared to other suburbs) it also seems a bit nicer neighbourhood compared to suburbs for similar price (i found crestmead quiet cheap for the area).

    Its not too far from Browns Plains and Logan Central.
    From my observation some of the suburbs with good infrastructure (shops and transport) seemed a bit rough which may effect the tennants you may get.

    Most houses seem to be 20-30 year old lowset brick and tile on 5-600 lots though there are some newer builds on smaller lots (think there mainly in marsden)

    Seems like prices have gone up high (did remember inspecting a 4 bedroom brick and tile on 599m2 6 months ago for 275 that was renting for 350pw) but looking at it now nothing would be under 300k

    Marsden would also be on my watch but prices tend to be higher due to blocks being larger but then again development potential
     
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  4. Splash Brother

    Splash Brother Member

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    Thanks for your replies. Looking at properties in the area now and most are over the 300k mark although rents appear to have gone up slightly as well. Will have a look at Marsden as well.
     
  5. gach2

    gach2 Well-Known Member

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    maybe head up there for a weekend

    nowhere near enough time to understand the area but lot better than nothing
     
  6. Ember

    Ember Well-Known Member

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    A relative bought their nearly 10 years ago and just sold for not much more than paid back then. Lots of problem tenants with holes in walls and no rent paid for weeks on end.
     
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  7. Tekoz

    Tekoz Well-Known Member

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    Yes that's correct.

    I've got one IP in Park Ridge QLD 4125 which I bought last year for $300k.

    It has already appreciating well nicely above $325k since December 2015.

    I believe the ripple effect of Park Ridge housing estate development can also be seen in the nearby suburb which is Crestmead:cool:.

    Therefore it is the good choice to invest last year in this part of Logan.
     
  8. gach2

    gach2 Well-Known Member

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    How much is the rent in parkridge?

    I dont think its the ripple effect of park ridge but more the ripple effect of Brisbane and rest of Logan
     
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  9. Tekoz

    Tekoz Well-Known Member

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    I've got the reply / feedback from Ray White in Logan, they said for a new house
    3 bedders - $390 per week
    4 bedders - $420 per week

    My 3 bedders is not yet completed.
     
  10. Shazi

    Shazi Member

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    Don't think this info is correct from Ray White . I would check the advertised rentals in this area. Problem tenants is an issue as well with rents not paid and eviction a problem .
     
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  11. Wins

    Wins Member

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    Personally have properties in Logan areas, specifically Crestmead. The area is trending along nicely for growth as well as yield. For someone buying from Sydney, Crestmead did appeal due to its numbers, and they do stack up. happy days... :)
     
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  12. Michael_X

    Michael_X Mortgage Broker Business Member

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    I like Crestmead, all just comes down to the numbers. I would say comparing to Logan, Kingston & Woodridge:

    Pros
    - Hasn't gone up as much as and still can find decent deals
    - Better quality tenants
    - More owner occupiers

    Cons
    - Further out form Brisbane CBD
    - Small local shops on Waratah Drive, that's about it
    - Need a car to get around

    Try picking up a lowset around $260,000 to $270,000 mark - they will rent for $330 per week, getting harder these days or a nice highset $300,000+ with dual living potential, that's where the numbers usually stack up.

    Cheers,
    Michael
     
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  13. Wins

    Wins Member

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    Hey Michael_x, how you going nowadays with your investments? have you been trying to acquire Melbourne ones as well?
     
  14. Michael_X

    Michael_X Mortgage Broker Business Member

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    Yeh, they are going well - ticking along. At the moment focusing on the business, need some tax returns before I can start buying again so work on that first.

    Haven't looked in Melbourne, the numbers are harder to stack up there.

    Cheers,
    Michael
     
  15. Rohit.Prasad

    Rohit.Prasad Member

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    Hi all. First post in property chat :)

    There is definitely some great buys still available in Crestmead. I picked up a couple myself not too long ago and a lot of my clients are buying in Crestmead and other areas that Michael has mentioned. Properties selling for 350-400k are getting really good rental return from 6.2%-7%.

    I'm finding that buying IP's that are around the 300k figure, are getting picked up really quickly, so you will need to move on it fast.
     
    Last edited by a moderator: 4th Apr, 2016
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  16. Tekoz

    Tekoz Well-Known Member

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    @Wins Yeah, I agree, if not Park Ridge (for new H&L) then Crestmead (for existing House).
    The riple effect I guess can be seen this year :) forward.