QLD Logan hot spots! Insider knowledge

Bit of an on the ground update. Properties still selling fast and above asking prices. Huge numbers at open homes and most properties receiving 5+ offers after first inspections. One property I looked at had 17 offers, were chasing 570 and sold for 620k. Another one was chasing 610 and sold for 652. Apparently some of the higher end stuff in the 700s is being snapped up by investors down south and one agent said that the last 5 sales were all to Asian buyers. 3 years ago that was unheard of. I called about 3 properties that were listed within 2 days and all were under offer even before the first open home.

Anything that's 4/2/2 on 800m2+ is now over 500k this time last year you could pick it up for mid 400s. By the end of this year I think you will struggle to find anything within 500s. In springwood or daisy hill you are now looking at 600+ but still some good buys in shailer park, cornubia, tanah merah and loganholne. Also noticing more and more properties achieving the million dollar mark.

Top sale last week in Logan was in cornubia also. Rents are also at a premium. House next to ours was rented in 3 days, 4/2/2 for 630p.w, got our property valued by the same agent and was told she would have tenants in a number of days for our place at 610.

 

Fun fact. Brisbane average listing views 256. Shailer Park 404 views per listing.

 

3141 has recorded consecutive months of vacancy rate % reductions. From 3.3% to 2.9% .6%! Yep its heating up! Go Logan!

 

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3rd most viewed property. Shailer Park. Under offer very quickly. Sales still going strong in this neck of the woods.

 

I can see areas like Marsden, Crestmead, Heritage Park, Waterford West and of course Park Ridge all set to grow.

I'm personally seeing great growth and yields in Marsden and Crestmead. I own several there and I must admit the tenants from my personal experience have been absolute pleasure to deal with. Not a single issue with any of them.

 

Glad to hear that! My property in Crestmead just settled and it's open for inspection, hopefully I'll get tenants like yours!

 

I'm sure you will. I haven't had even a single day without a tenant actually in Crestmead. My houses closer to Brisbane CBD have been without a tenant longer. You will be fine as long as your agent is half capable.

 

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That is great news. Houses in Cornubia selling for $850k - damn.

Now when we have prices like this in Logan its a great sign no matter what someone thinks. I wish all my Logan houses were $850k each right now. Retirement here I come!!

 

Plenty selling for 750+ in surrounding burbs. Usually at least 1 or 2 $1million property sold every month too. Predominantly daisy hill area.

 

5x4x12 on 8900m2 in Cornubia is not exactly representative of your average Logan property though is it. Bit like comparing Upper Coomera property's to neighbouring suburb Willow Vales Median of $900k.

 

I know its not but when a particular suburb/area is selling for $850k and you have places 3-4km away selling for $400-$450k well do you seriously think it will stay this way for long?

Neighbouring suburbs will take time but property investing is long term. Lets see in 5 years - I would bet my Logan properties double in value.

 

The areas you are comparing in Logan are different to Crestmead...Kingston....Woodridge.......places like Daisy Hill, Rochedale, Cornubia are not comparing apples with apples.....

 

Do you consider "neighbouring suburbs" those west of the M1?
I agree PI is long term & I have interests in Logan myself. I don't expect Loganholme or Tanah Merah to catch up with the premium suburbs to the East. Will they grow? Yes. I don't disagree with you, I just don't think it was the best example is all.

 

Sash, at least once or twice you've put Shailer Park with Kingston/Woodridge/Logan Central.

Now you're putting Crestmead in the same basket? Its probably not head to head Daisy Hill, Rochedale, Cornubia, but definitely not shoulders with Kingston/Woodridge/Logan Central.

 

Well my original post was focused on Springwood, Daisy Hill, Tanah Merah, Shailer Park, loganholme and cornubia. Hence why I posted it. Definitely can't compare to the lower socio economic areas of Logan.

Anything 4/2/2 on 800m2+ now in these suburbs is 500+k if your lucky to grab one. A year ago you could still pick up for in the 400s. This time next year I'm expecting 600k+ for 4/2/2 on 800m2+ in those suburbs. Some already are like daisy hill and springwood.

 

Come on mate. Ain't you meant to be one of the guru investors on here? Been here 3 cycles and as you say experience trumps everything especially young guns like myself? I know you dont like to see young guys do well or succeed but seriously you need to research more.

We may be young but there are some very very smart young guys on this forum and everywhere you look.

 

Just got off the phone to an LJ Hooker sales agent. Looking to inquire about a few places and he was asking whats up with Sydney buyers. LOL

He said there has been an exponential increase from Sydney buyers and Logan is damn hot right now. Some pockets more than others but they are loving it up there. Good business for them.

 

Care to share which suburbs the agent was referring too?
I keep in contact with a very prominent agent who specialises in Marsden/Crestmead and his opinion is that all the investors are long gone - He had 11 auctions 2 Saturdays ago and they all passed in.
He tells me there is still the usual OO interest but the market has definitely cooled compared to beginning of year and prior.

 

I don't believe those figures because I've been keeping an eye on Logan auctions and there has never been 11 auctions in Marsden/Crestmead on a single Saturday especially in the last few weeks. I checked last week and there weren't even 11 auctions in the area that I could see taking place.

I'm happy to be proven wrong if you can share a link to this? All these should be reported back to RE.

Actually he was referring to suburbs Boronia Heights, Loganholme, Marsden and particularly Park Ridge. Edens Landing and Loganholme he said was getting very hot - he personally bought one recently as well in Loganholme.