QLD LOGAN 2022

Discussion in 'Where to Buy' started by DavidDavid, 1st Jan, 2022.

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  1. DavidDavid

    DavidDavid Well-Known Member

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    {Note from mods: this thread continued from thread LOGAN 2021 }
    I just received a report via email this morning from onthehouse.com.au and Median house value for Logaholme went up to 542K for a house and 425K for units. 10% increase in the last quarter alone. Impressive and these people have been the most conservative. 20220101_113851.jpg
     
    Last edited by a moderator: 2nd Jan, 2022
  2. frankjeager

    frankjeager Well-Known Member

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    it defintel means something, especially when the biggest selling point of an area is 'affordability' it can only rise so much before its not seen as 'affordable' compared to the more desirable suburbs.

    in any case, logan is doing well, onwards and upwards in 2022, ill be watching closely, im looking to sell and want to get the most value i can (have some Syd based development/renovation projects i want to use the profits on)
     
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  3. sash

    sash Well-Known Member

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    Frank this is a great point. Some of numbers posted on Logan was the better properties. For example I have done a fact check not only the Logan properties but also Ipswich and Moreton bay. The numbers are a bit misleading. People posting some sold for 600k. But what is not being communicated is that property was bought brand new for 460k last cycle. You are correct the stock standard ones current 420 to 450 will go up 15%.
     
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  4. thunderstrike888

    thunderstrike888 Well-Known Member

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    Is this on your mobile or some kind of paid subscription? My onthehouse doesnt look like that when going to suburb research and entering Loganholme. I'm on a desktop running windows 11 and logged into my account.
     
  5. DavidDavid

    DavidDavid Well-Known Member

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    I just received it by email. I was just following my house in Loganholme logged in into onthehouse.com.au. Sometime I receive updates about Loganholme from Domain or other sites. Not paid subscription. I did email CoreLogic, Domain and Onthehouse asking them to update their sites and values with more updated evaluations and sold prices in all Logan as they are using old data. Their evaluations seemed way too conservative for how much houses are been sold. I received a reply that my request was forwarded to a manager and was going to look into it. I am not sure if the email I received was because of these requests I sent out. Those sites should all make evaluations considering latest data and should all be pretty much similar instead they are not and most of them have not received updates for a long time. I emailed them after asking them to change their suburb profile in their main sites taking into consideration the new prices as all Logan increased in value overall. If enough people will write them I am sure they will start to follow Logan evaluations more closely.
     
    Last edited: 2nd Jan, 2022
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  6. Harveys

    Harveys Well-Known Member

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    I wonder what the percentage of posters in here bought a new property in logan last cycle for 460k? I’m going to guess it’s the minority.

    Older 3 beds bought last cycle for 280-300k are selling for way more than 15%. These properties are now selling for 460k+

    There is also a far wider spread of stock selling for 600k than the small picture you’re trying to paint based on your well-known bias.

    Logan will continue to grow relative to affordability in Brisbane and gold coast.
     
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  7. boganfromlogan

    boganfromlogan Well-Known Member

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    Whoaa was just talking the other day to a poster who was looking at something reasonably assessed at high 300s, low 400s went for heaps more ( was it 460s, can't quite remember).

    Posters here are caught out thinking sold prices will be X, finding sold prices are X plus 20% ......I am apologising to ppl for giving overly low estimates....

    The fact check needs to be fact checked. Expertise is in Geelong Units, not Logan.
     
  8. frankjeager

    frankjeager Well-Known Member

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    appreciate the perspective sash, yeah i tend to agree.
     
  9. sash

    sash Well-Known Member

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    Agree older stock bought for 260-320k now selling 420-470k. They have jumped 40% in less than 18 months. I have had this happen to me in Adelaide when I hit a 80% gain I sell out of my CF and repurpose.

    I have 3 in Moreton Bay bought for 252k....325k.....300k....they are no 600k...700k....and 590k....over 50% growth in less than 2 years. Do I think it will grow more yes but more like 10-15% before it levels out..it can't go forever.
     
  10. sash

    sash Well-Known Member

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    I had stock stock like this in Adelaide bought for 180k and 225k exited this year 352k and 435k. Happy to do this as these were CF and not much was spend but if I held large maintenance/reno expenses would have been around the corner.

    Now repurposing these into Perth in much better suburbs where potential if 300k in gains in 2 years and rents 500-600pw ..same price points building new for 380-405k. Where as in Adelaide I was getting 280pw (really crappy house) and $335pw.

    Thing is not to get too emotional. Given Logan's history...if it nears 500k..would be good thing to exit 1 -2 year and lock in profits. History shows 500k property can go back to 430k quickly there. Sure you would have bought for 280k. But then you are back down to 150k profit in paper vs selling in at 500k say 10k sell costs...210k profit. Pay tax 105k. And you are still ahead after tax. The other issue is what happens to rents? They are also known to drop.

    All markets have ups and downs.....so you need to have a clear exit strategy defined.
     
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  11. thunderstrike888

    thunderstrike888 Well-Known Member

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    How are you basing anything on Logan history? Most suburbs over $500k nudging $600k-$650k+ have never been at this price point ever in the past before. LOL - I'm smelling something through the monitor smells like cow manure.

    Go back to your Geelong unit developments mate.
     
    Last edited: 2nd Jan, 2022
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  12. beesy7

    beesy7 Well-Known Member

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    I think Loganholme has done average as all areas are going up with the rising tide.
    I was looking at the percentages and Taneh Merah , Meadowbrook & Forest Lake have had on paper double the growth in the last 12 months comparing to Loganholme.
    I think the section along Drew’s road / bordering Taneh Merah is more desirable being closer to shailer park and the hyperdome, I think it will most likely grow faster in percentage terms.
    Im still blown away by some of the modern builds on decent blocks and the price movements the last 6 months.
    This can’t go on forever
    Sold April 547 just resold 780!
    https://www.realestate.com.au/property/21-eden-cres-springfield-lakes-qld-4300

    Regents park was flat up until 6 months ago , now it’s insane as buyers are being priced out of other areas.
    So no doubt areas like Loganholme will remain competitive for months to come.
     
  13. thunderstrike888

    thunderstrike888 Well-Known Member

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    Cant even buy a complete craphole in 2770 in Sydney at this price now. A brand new build in a new estate for $780k is a BARGAIN!!!! LOL - if your a Sydneysider this is a dream of a price and dirt cheap.

    Springfield lakes is popular as hell with FHBs as well. I think just on the price differentiation alone between Brisbane and Sydney suburbs Brisbane has a lot more to grow.
     
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  14. sash

    sash Well-Known Member

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    Have you looked at data in what Logan did in 2000-2007...it tripled and then it went back 15-20%. Look at areas like Logan/Woodridge/Kingston.

    Same in Ipswich. @Simon Hampel what was the name of lady who bought something like 13 places in Ipswich for something like 55-75k a piece I believe she sold at 180-200k. She put into shares..but that is another story. She had a picture of dog on her avatar. She killed it..so did a few others..but they all got out before the markets came off 20%.

    Never recommended Geelong units...though they have come good...
     
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  15. beesy7

    beesy7 Well-Known Member

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    https://www.realestate.com.au/sold/property-house-vic-werribee-137698378
    I just went for a drive past this house in Melbourne , demographics its likely comparable to a Loganholme.

    With empty blocks in outer Geelong selling for 500k a house on a decent block seems a steal at 620k on the corridor to Geelong.

    The rental market in outer Melbourne is very weak exposing some real bargains coming threw.
    I believe investors will sell out presenting some opportunities , streets will most likely present better in the future if more owner occupiers move in.

    The markets are so interesting to watch at the moment , I’m enjoying tracking the data in all areas and I’m not biased to any particular location.

    No doubting a strong rental market equates to strong price growth.
     
  16. sash

    sash Well-Known Member

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    100% correct....prices in outer Western Melbourne are looking very cheap. Rent returns are very poor typically $320-$400pw. I can't see how people can justify 500k for Logan when Wyndham and Melton shire offer houses under 500k.

    History show it will correct further...but watch what happens when people realize the Qld economy is not buoyant and diversified as Sydney and Melbourne. A lot got out due to lockdowns...but things are evening out...lets see..

    Have a look at this one...Hoppers is only 23 klms to city and has all the infrastructure. Yet it is priced like a house in Regents Park.
    https://www.realestate.com.au/sold/property-house-vic-hoppers+crossing-137854634
     
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  17. Simon Hampel

    Simon Hampel Founder Staff Member

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    Was it "Brenda" ??
     
  18. sash

    sash Well-Known Member

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    *Snap yes Brenda!

    Yes that was here name...a nice lady...what ever happened to her?

    I thought she like a kid in candy store...she posted she and her hubby never made much money but she killed it and got out just in time.
     
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  19. Simon Hampel

    Simon Hampel Founder Staff Member

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    I seem to recall the GFC happened to her? :(
     
  20. sash

    sash Well-Known Member

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    Yes she put her money into shares....she was pretty smart ..I sure she would have ridden it out.....
     
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