Logan and Gold Coast Faster Rail

Discussion in 'Property Market Economics' started by Samj, 4th Sep, 2021.

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  1. Samj

    Samj Well-Known Member

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    How bad is this for people who are losing lands/houses? Has anyone had any experience losing lands when they resume? Did you get a fair compensation ?

    Logan and Gold Coast Faster Rail

    upload_2021-9-4_13-17-36.png
     
    Samj, 4th Sep, 2021
    #1
  2. boganfromlogan

    boganfromlogan Well-Known Member

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    Sorry @Samj I think Ur post is off the mark.

    The property along the rail line is not what u might think. The place being purchased for loganlea is owned by Logan council, and the claim of it widely affecting ppl is wrong.

    Think back to a former minister that got sacked from a portfolio following scandal buying in the Cross River rail zone because of early knowledge of the development.

    It is attractive to everyone.
     
    Last edited by a moderator: 6th Sep, 2021
    boganfromlogan, 4th Sep, 2021
    #2
  3. Scott No Mates

    Scott No Mates Well-Known Member

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    Think of it as your contribution to state infrastructure.

    Resumption happens all the time. Prices are locked in at the time of gazettal so may not reflect your concept of market value. Read the Act, engage a valuer & property solicitor - in NSW these costs are covered by the resuming authority.

    State & Federal Acts are different - read the right one.
     
    Scott No Mates, 4th Sep, 2021
    #3
  4. Samj

    Samj Well-Known Member

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    Hi @boganfromlogan, I am a fan of Logan, wasn't intended to write a negative post. May be my question wasn't clear enough. I have no objection for infrastructure development. I am just wondering if compensation is fairly reasonable usually from TMR. If anyone has had a similar experience and if they are happy the compensation they got.

    I bought an investment property last month and it's going to lose most of the land, possibly the house as well. Both neighbors are owner occupiers and I got to know about this from one of them who is clearly losing the house. They are so worried about this and concerning if they can find another house in this hot market (if they get current market value).

    I just bought the property so I believe I have proofs what I have spent and hopefully can claim it. I hope, least I will be able to cover finance losses. Spent lots of time in last couple of months and bit disappointed unfortunately. But it's a really good thing for Logan!
     
    Last edited by a moderator: 6th Sep, 2021
    Samj, 4th Sep, 2021
    #4
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  5. boganfromlogan

    boganfromlogan Well-Known Member

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    U should be OK.

    The cross river rail paid oodles for resumption,
     
    boganfromlogan, 4th Sep, 2021
    #5
  6. Clean Cookie

    Clean Cookie Well-Known Member

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    Don't be surprised if this is the best Roi you'll ever have. As bogan said, the prices paid are usually a premium because of the inconvenience and uproar caused. You should be able to upgrade, even in this market.
     
    Clean Cookie, 5th Sep, 2021
    #6
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  7. boganfromlogan

    boganfromlogan Well-Known Member

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    boganfromlogan, 17th Sep, 2021
    #7