QLD Logan hot spots! Insider knowledge

Discussion in 'Where to Buy' started by magyar, 16th Mar, 2017.

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  1. Frank M

    Frank M Well-Known Member

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    Also i think with logan quantity is just as important as quality, they might only go up 50-100k but if you have 5 of them could potentially be 500k with most likely them being positively geared, also flexibility with selling off that capital
     
  2. Frank M

    Frank M Well-Known Member

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    Oh nice, im in caroline springs !
    Yeah cant compare melb and syd with Brisbane but i think it will have that ssme ripple effect, to put a time on it... how longs a peice of string haha
     
  3. Katie

    Katie Well-Known Member

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    Frank yeah I agree Logan is in a great spot if you can get a whole bunch of them and there costing nothing great.
     
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  4. Katie

    Katie Well-Known Member

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    I'm not knocking Brisbane I love the place less then half the people of Sydney Melbourne can actually drive a car in the city up there population in Sydney and Melbourne needs to come down in 10 years imagine those 2 city's.
     
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  5. Closet

    Closet Well-Known Member

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    It does have a nice feel to it doesn't it...just keep in mind though the way the cycle works....prices in one area go up and then buyers are pushed out of those areas into cheaper spots....brisbane goes up first(inner..middle...outer)....then logan....then ipswich. Good quality areas in Logan will do well and are already up 5% for the year (same if not more than Strathpine)...just not the ones with too many investors ;-). Agents reporting lots of FHB activity in Regents Park...and once the roadworks are finished it will become more and more popular....
     
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  6. fat cactus

    fat cactus Active Member

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    Does this mean that Logan wont be too badly affected by tighter lending to investors?
     
  7. Closet

    Closet Well-Known Member

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    It depends on which parts of Logan you are investing in and the demographics. The nicer areas who are attracting FHB with higher than average disposable incomes will be less impacted (lower ratio of income to price=better serviceability and borrowing capacity)... but the main issue is the doom and gloom in the media which is reducing buyer numbers. However, with a strong economy that will eventually clear and the better areas will continue to grow slowly but surely
     
  8. TMNT

    TMNT Well-Known Member

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    Just spoke to an agent and he reckons Logan central has pulled back 5% in the last quarter,
    and the surrounding areas have surprisingly virtually stayed stagnant
    and its not improving remotely
     
  9. eletronic_exp0430

    eletronic_exp0430 Well-Known Member

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    Short term the growth will be little probably in most markets. Lending is the killing factor at the moment. Either way if you bought in Logan right its costing you nothing to hold the properties + you still gaining from depreciation etc....

    Long term population growth for Brisbane is going to work in all our favor. Close to 500,000 people by 2030 just in Logan council alone. Ipswich also close to 500,000 people, Moreton Bay around 550,000, Brisbane 1.3 million. Total population for Brisbane between 4 and 4.5 million. These are based on 2010 estimates and numbers I had sitting in my research folder few years ago its probably a lot more now going by the exponential growth experienced recently.

    Dont worry you'll make money.
     
    Last edited: 4th Dec, 2018
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  10. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Lending capacity per se isnt affected by the area you buy in generally.

    yes some burbs and PCs are on a watch list with some lenders............

    One's capacity for risk, and structured lending can usually minimise but not exclude those systemic risks

    Planned and structured lending allied to a long term strategy is key

    Hit and miss approaches, will give exactly those results

    ta

    rolf
     
  11. Simon L

    Simon L Investment Property Buyers Agent Business Member

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    I still maintain Logan Central, Woodridge, Kingston, part of Slacks Creek will be the slowest to take off. First step of gentrification is owner occupier appeal - it will just take these suburbs that much longer to change than many other quieter family friendly perceived suburbs in the Logan area. That said, money can be made anywhere even if you bought on the worst street/worst suburb - comes down to how much you pay, what the cashflow is and what potential it has at the end of the day.
     
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  12. Michael_X

    Michael_X Mortgage Broker Business Member

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    Spent the past 2 weeks living in Logan and checking out properties.

    Market has definitely dipped, very few buyers out and about. Spent Saturday going through open homes, and only one property in Slacks Creek (between Park & Paradise Rd) had quite a few groups through. Every other property, we were usually the one group.

    Good buying out there. Picked up 2 more properties, and getting prices better now than some of properties I bought in 2014. Renovated 3/1/1 in Kingston for $235,000 and 4/2/2 Brick & Tile in Crestmead for $325,000. Both on 600 sqm with not much to do & will be neutral/slightly positive from Day 1.

    Vacant blocks of land (600sqm) are still selling for $230,000 - $240,000 so seeing good value on existing properties.

    Cheers,
    Michael
     
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  13. TMNT

    TMNT Well-Known Member

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    that is phenoemonal value,
    thats like 4 -5 years ago prices
     
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  14. Coastal

    Coastal Well-Known Member

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    Is anyone successfully sub dividing blocks in marsden, crestmead, regents park or boronia heights areas?

    Buy house on big block, subdivide and sell block and house? 400 to 500 metre blocks seem to sell for around 200k in marsden.

    Might work for corner blocks?
     
  15. SoroSoro

    SoroSoro Well-Known Member

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  16. Tom Rivera

    Tom Rivera Property Manager Business Member

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  17. SoroSoro

    SoroSoro Well-Known Member

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    Is Logan more of a yield play over capital growth?
     
  18. Tom Rivera

    Tom Rivera Property Manager Business Member

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    Absolutely. There are some areas that have seen great capital growth in the past few years, but as a general rule Logan is a 'safe' strategy, with strong yields balancing CG gains that are expected to be lower than other options (e.g. Brisbane middle ring).
     
  19. Ko Ko Naing

    Ko Ko Naing Well-Known Member

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    With high Logan council rates, this will definitely get you in negative-geared territory. A weatherboard house with very sloppy land at the back won’t do anything good, even if it is 720sqm.
     
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  20. Luca

    Luca Well-Known Member

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    Comparables in Srathpine are at least 80/100k more with yield being around 2% less. It depends what you are looking for. Considering RE is a long term game, honestly I prefer to buy properties CF+ from day one, I want my assets to work for me not the other way around.