QLD Logan City IP

Hi there, Logan is very diverse, so I think you have to be careful not to roll it into one place. If transport access is your go, Loganlea, Beenleigh stand out (fast train), Meadowbrook is also interesting (bit pricier). If you like hills and expensive housing daisy hill, Rochedale south, springwood, all along there. If you like the sticks then out near Tamborine Village, if you like state development areas there are a few out Yarrabilba Jimboomba way. Large blocks at Marsden. If you like cultural diversity, Logan has a lot to offer.

Be wary of some areas of Slacks Creek based on historical ground contamination, and flooding.

The thing most worrying about SEQ and Brisbane logan GC is the state of transport infrastructure and the sheer numbers of people commuting up and down the freeways. So maybe the train is important and the bias against woodridge might pass in time? It is geographically quite convenient.

 

I don’t think people should be offended if someone indicates an area is not as desirable or if one opinion differs from another. People come here for diversity of views and every view should be taken into account. Keep it civil.

 

.

Waterford West, Marsden, Kingston and woodridge are far worse than they were 20-30 years ago. But the one thing Logan has going for it over places like Spingfield is location. 30-40 to goldie, 20-30 to Brisbane central. Although the volumes of traffic is starting to see those numbers blow out.

 

Rents are 300 - 350 on houses that cost 280k, block sizes can be large, location is still as good as it ever was, transport links are improved out of sight from years ago (pity about the traffic increase). I think what we have is the 'inala' syndrome - remember when no-one could stand inala? The opportunity is evident to anyone from out of town.

I am in Waterford West, Marsden, Kingston and Woodridge every day of every week (sometimes travelling through). If you don't mind diversity these places are great!!

 

If you want to be really horrified - go to the Gold Coast.

 

It's definitely heavily dependent on the area in Logan, and sometimes it can differ from street to street.

Marsden is a great example. The Marsden Park Shopping Centre on the eastern side is awful, but the new Fifth Avenue shops are really nice- with more coming! Anything on the west side towards Berrinba is a really solid pick.... but there are some other parts of Marsden I would think twice about even driving through.

 

‘They’re taking our second car!’ - news.com.au

For those buying, some leverage for discount

 

Shudder.....

 

Mum lashes critics after daughter left on bus

Classy

 

Hey everyone. I've been a bit busy following the Logan market in recent months

What's the market in general doing?

Have we hit a peak yet or is there a lot more upside

 

Reality - no-one knows. Run away fast if someone can tell you for certain where any market is going (especially if they are trying to sell you something!)

My opinion - Don't think we are anywhere near peak yet. Just steadily moving along but has slowed d although there are some signs that its picking up on the ground IMO.

On the ground its a sellers market and becoming even more apparent that FHB's are starting to move in as I am competing with more and more of them for deals! Stuff that is renovated nicely in 'family friendly suburbs' are selling for a premium. A lot of "wow" moments from both myself and selling agents when seeing how much some properties have sold for. Not that I buy land for clients, but these are also selling fast to owner occupiers wanting to build spec homes. Not much FHB activity still in Logan Central/Woodridge/Kingston - plenty of investors though.

Most agents I deal with are complaining of very little stock

Also noticing a lot more random BA's or investors paying wayyyy too much for houses or getting sold into overpriced dual living, dual key style properties or townhouses (lured by yields). Stay away. Logan isn't Sydney. People don't need to live/rent a dual key property or townhouse when for almost the same money they get their own house and a big piece of land.

Why do I keep banging on about FHB's? Its always the first sign a lower socio area is beginning to gentrify

Stick with houses on blocks of land, keep an eye on cashflow/equity/value add options and you'll be fine in the long run. If you plan to sell, spend the money on the reno.

 

I have just relet a 4 Bedroom house in Waterford which was previously let at $415 in which I had to drop to $395 to secure a tenant.
Vacancy is sitting @ around 4% at the moment with about 20 4 Bedroom houses available for rent..

 

I have noticed increasing competition and a reduced pool of quality tenants driving rents down in some areas- particularly for unremarkable homes without unique features (e.g. a 3-bed 1-bath 1-garage in Kingston).

100% agree with this.

- No one knows exactly where the market is going. If anyone answers this question with anything except an opinion, ideally backed up by facts, it's sales rubbish.
- Despite rents flattening in places, I agree that sales are strong. Prices trending upwards with plenty of interest, quite a lot interstate.
- The whole dual-living conversion craze in Logan, especially around Kingston/Woodridge/Slacks Creek is going wild, but we've found repeatedly that these houses actually rent better as one home than as two. I've actually converted two back to single houses for better results in the last few months.
Simon is spot on in that for the price you rent a duplex (usually around $300wk), they can get a similar quality standalone house, which makes them VERY hard to rent to quality tenants.
I will add though that Dual-Occupancy homes are still popular because everyone loves a new home, as long as the house is well designed and the rent is reasonable.

P.S. @Simon L send those land buyers my way!

 

Nice post Simon
I like sellers markets! I purchased mine a few years ago well before the herd got in. For once thus was a calculated entry timing for me.

It's been a few years since every investor on here and even randoms started talking about Logan Logan Logan.
Its been a good few years and I too feel there is bit of a way to go. But I've just been hearing a few unverified birdies say things are slowing down but I've yet to see anything

I too think one of the signs of gentrification is fho going in.

But I also include when zoning starts to get tighter and once people start subdividing into smaller blocks. But once people start building up Eg multi level apartments., that's a instant cg on land and it's surrounds. Which won't go back down in value

And to put money where my mouth is I purchased 3 consecutive blocks on a fairly busy road

 

That's exactly what I've been saying since day 1

Too many variables introduced once you start building gfs and you have to deal with two sets of variables plus the negative of smaller land and sharing.
It used to work when the lcc fees were low and when you could build a decent Gf for 70 or 80k
But now it seems it's up to $120k plus increased council fees.

A lot of people saying how great it was in general were sales agents

 

Agreed entry timing can be important however there are still good deals to be had in Logan, you just need to know how to get them! Anyone thinking they have missed the boat is mistaken there is still some good buying around.

 

For Logan, in fact the entire of Brisbane the boats are still at the docks. Nothing has even sailed yet.

I personally think its the absolute best time to get into the Brisbane market (better than any time in the past). If I had more money I would be making offers left right and center - but at the current time finance is hard for me.

 

The best time for Brisbane and it surrounds by far was before in my opinion
Significant growth has already occurred

 

OK and when would that have been and based on what? I am basing my opinion on numerous economic growth factors, unemployment, jobs growth, Local GDP, influx in interstate migrations and the amount of billions of investment from private/gov sector. Not to mention the capital growth I've already experienced in Brisbane since I started up there. - if the above are not good signs to invest than I don't know what is. - There has NEVER been in the past all these factors aligned for Brisbane + the current unaffordbility issues in Syd/Melb. The perfect conditions for Brisbane I feel are ripe for a strong growth.

Based on my research I am very confident in my opinion that we haven't seen anything yet and its still on the very bottom of the upswing curve.

For me and many other Sydney investors it wouldn't have been the best time because if say we invested in Brisbane say 5 years ago instead of Sydney well I don't even want to think about how much money we would have missed out on.

 

I'm sure you know capital growth is based on millions of factors. And nobody has a crystal ball.

All I'm saying is that. Yes there are many factors for and for against.

To me the best time to get in is at the bottom of the cycle or just as prices start to rise.
Once the herd start to follow, I feel is not a bad time to get in. But we are discussing the "best" time

So it would have been give or take 2 to 3 yrs ago

That's my opinion