QLD Logan Central

Personally I would stay in near the m1 for investment just pick a decent suburb.

One thing people on here people don't understand about Logan is the relationship with the Gold Coast through the m1... 140,000 cars commute to Brisbane everyday down the m1 and 100,000 of these cars come from the Gold Coast.

Make of this what you will, but to me as Logan and the Gold Coast evolves and grows, your investment position within this transport corridor will be vital for premium growth and attraction to tenants and prospective future buyers.

 

What are you suggesting?

That in terms of % cg , the best growth will occur in between the two cities? Or beside them ?or around either?

 

I don't know what the future holds

GC population to double to 1.2 million by 2050, local government to build new entrance to brisbane but not until 2025, till then there is no alternative route. Local media is starting to lobby for change as the situation is so bad. Last time the economy fell to its knees a lot of GC traveled or located to brisbane for work which contributed to Logan's vacancy rates.

 

What is the M1 like on a week day morning and afternoon? Great road but I have only used it on weekends.

 

It sucks big time, from 2.30pm outbound (from Bris CBD) its a nightmare from the Gateway merge, a total of 7 lanes go down to 3 and it was only 'upgraded' about 18 months ago.... Its also busy inbound in the afternoon too, can be as slow as outbound. Mornings are pretty slow from the Logan motorway inbound. Overall its a very busy road and needs a major upgrade. I bought in Loganlea, its a relatively easy commute to Brisbane CBD, Ipswich and the Gold Coast. Also there are express trains which run between Brisbane airport via the city and once left the inner city only stop at Altandi, Loganlea and Beenleigh. Loganlea is a priority development area with the council, land around the station has been rezoned for more shops and medium to high density living, and an upgrade to the station is planned.

 

Is the commute from Brisbane CBD to the northern suburbs any better? In terms of traffic gridlock? I was lead to believe that travelling from Bris CBD to Logan was a breeze compared to travelling to the northern suburbs from Bris CBD.

 

One reason I bought a dev lot in Loganlea. 5% yield while holding. Trying to keep existing house and build triplex/duplex at the back, or just demolish and build 5 townhouse. Builders and agent I spoke to have this wow factor about Loganlea. Hospital, university and council priority development...

 

Northside can be even worse due to many traffic lights on a few of the main routes..........

 

Thanks rico2011 for confirming

 

How many m2 land did you buy?

 

Don't get me wrong though, when there is medium/normal traffic its a great road, can get into the city pretty quickly from some Logan suburbs, I went from my IP in Loganlea to Stones corner (inner city) in about 15 minutes a few weekends ago...

 

A parcel of 900m2 will allow you to do 5x2bed townhouse. If you go closer to the frame and core zoning will allow you to pack more in

 

seems that prices in 4114 are almost catching up to prices of marsden,

I see prices well between 250-300k in 4114,

but marsden, a still few advertised for around 260-280k

 

A couple of month ago, Tony the LJ hooker sale agency said they were short of properties for sale in Woodridge because the properties were selling too fast.

However, I would rather buy in other areas to avoid competition. I care more about the rent yield and rental growth, on which Marsden/Crestmead did a better job.

Woodridge definitely got growth drivers in near future, such as the south east busway extension. But, Marsden also will have $60 million redevelopment of shopping center. And Marsden has much less public housing.

 

Exactly my thought. The redevelopment should be good for Marsden, Crestmead and Waterford in the long term. Tenants are also a bit better than in the Woodridge area.

Prices from both areas are slowly creeping to match each other. Essentially it's location and train line vs better tenants and less competition.

 

Lol. Better tenants? Out of the 15-20 properties I inspected in Marsden and Crestmead nearly all the tenants were sitting around at home and the houses in disgusting condition, wasn't excited at all to buy there. Around Logan central are more townhouses which seem to bring down those area's. Bought in Loganlea it has the best of Logan combined IMO.

 

Yeah, Marsden, Crestmead, Waterford and Loganlea are better suburbs and have higher rent than 4114. Woodridge is closer to motor way and city, but I don't see the government has any intention to change the situation of concentrated public houses there in short to mid term. That will slow down the gentrification of the suburb. So I think in mid term, marsden areas will be better; whereas in long term, Woodridge will outperform.

The following pictures from realestate show: From 2009 to 2014, woodridge weekly medium rental has only increased $10 from $300 to $310, but marsden's has increased $25 from $310 to $335.

 

Good observation, I agree with this.

Suburbs like Marsden, Crestmead, Waterford etc are less investor driven and once the Brisbane locals starting buying, watch out. These areas will perform very nicely.

In the long term though, I feel Woodridge will outperform based on it's proximity to the city and more expensive suburbs like Springwood and Underwood.

In saying that, any time you can get a property that holds itself I would still go for it. The tide will lift all.

Cheers,
Michael

 

There is a saying "central always out performs the best"

And i agree

Good example.
Two years ago woodridge kingston were the same price as logan central or like 1% less

Now logan central is higher by more then 1% then the surrounds

Central all the way for me

However since now the prcies have gone up. In terms of cg% growth. Id prefer the surroundings but at the right price

 

Agree, Marsden and Woodridge have plenty of 'interesting' tenants.
If someone is gung-ho on buying there, they should be aware of that but they'll find out soon enough, hopefully not the hard way.