QLD Logan Property 2016

Discussion in 'Where to Buy' started by Yson, 4th Jan, 2016.

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  1. virgo

    virgo Well-Known Member

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    Hey mind sharing who you are going through with the build? What is your estimated TOTAL costs ie building and professional and council costs etc?
     
  2. RetireRich101

    RetireRich101 Well-Known Member

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    150m2 3bed, 1bath, 1 garage, brick, steel frame, concrete slab granite kitchen, aircon, solar panel, fan...basic landscape, driveway, fencing, mid finish for the area about 175k...so about $1150/m2 excluding council infra and strata titling. estimate 25-30k total.

    smaller annexed unit 70m2 internal + 20m garage would be more per m2 to build though.
     
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  3. RetireRich101

    RetireRich101 Well-Known Member

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    That's a premium service BOB
    just kidding... PF doesn't have this feature..? I will need to pull the data 4114 and 2770 median price and plot in excel.
     
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  4. virgo

    virgo Well-Known Member

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    So all in about 200K add in 10% variation ...220K..hmm...compared with 3 bedder single level on its own block 600sqm...280k? ...hmm...

    And (sorry last question i promise!)...how much land would each strata title end up with?

    i guess its a rental play this one?
     
  5. sash

    sash Well-Known Member

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    Might be hard to answer...my thoughts...given the trajectory of the Brissie market there is still growth in Bethania.

    But the question you need to ask if you took the money and invested elsewhere in Brissie would you get more returns?
     
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  6. bob shovel

    bob shovel Well-Known Member

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    Ive been kicked out of PF. Need to re new my subscription :(
     
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  7. sash

    sash Well-Known Member

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    Watcha ...sayin...are you saying some of the number presented by some on line are furphies...??

    Agree with you about putting granny flats in Logan is not a good idea...the housing shortage in Brissie is not as pronounced.

    Why would a tenant go to granny flat when they could get into a unit for T/H for the same price...something to ponder. The only reason granny flats make sense and are profitable in Sydney is because values have risen so much....
     
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  8. RetireRich101

    RetireRich101 Well-Known Member

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    isn't all annexed unit/granny flat a yield play? though I have the option to stay as one title, so save $5-10k strata title and council rate notice... you have the option to build it smaller size to save build cost. the one I am building is 150m2... the granny flat in Sydney is 60m2, so more than double the size...150m2 dwelling would be on 300m2 land..not all property allows you to do the dual occupancy (similar to duplex) type of configuration.. you need to be selective on the plot of land in the first place
     
  9. JesseT

    JesseT Well-Known Member

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    I always value your opinions Sash and you often refer to historic data of previous booms, in 2000 to 2005 in Logan the rising tide lifted all ships and the likes of Woodridge, Marsden, Loganlea even outperformed Rochedale South, Margate.
    I wasn't around for this, what is so different this time around?
    Was there much more owner occupier interest in these areas in the last boom than we see today?
     

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  10. sash

    sash Well-Known Member

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    Great question..... no there was not as much owner occupier interest as people could have bought closer in. Now they are heading to places like Rochedale South ..Margate. Strathpine due to affordability.

    The previous areas where they got into last cycle like Keperra, Moorooka, Carlesdine are now out reach. So they look further out.

    Bear also in mind Woodridge and Kingston came from very low base prices 55-75k...they are now triple that.

    So the question now is whether they will be worth 500k based on last settling point post last boom of 250-260k. Margate only doubled last cycle...time will tell..it is all about perceptions ...demand...and investor demand pull back.

    These are my thoughts...

    Oh...do me a favor try to find a liveable house in Margate for less than $360k in Margate now in a quiet street....I foresee within 18 months it will be impossible to get in under 400k. This has pretty much happened in Brighton..over the Duplication bridge.....
     
    Last edited: 1st Nov, 2016
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  11. Jays111

    Jays111 New Member

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    How big is the block you are building this on and is it in the residential zoning area? I've lined up a highset (legal height under) on 720m I'd like to build a dual occupancy unit behind but after reading the logan council guidelines i might be restricted to a 2 bed instead of 3 and a maximum of 70m2 plus garage/patio.

    I would rather have just one other residence on a block and a bit of yard than be in a unit block. For this reason i think the dual occupancy has a place, albeit a small one.
     
  12. fols

    fols Well-Known Member

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    Slightly off topic for a bit, does anyone have a Logan Area PM that is doing a great job? I've got a PM who manages 4 of my properties in the area- not happy with performance, think i need a change. Appreciate any reco's
     
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  13. JesseT

    JesseT Well-Known Member

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    I'll take your word for it ;)
    I have no doubts in the performance of Margate, I was just surprised that you don't believe Marsden, Woodridge, Loganlea will still see decent growth.
     
  14. RetireRich101

    RetireRich101 Well-Known Member

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    correct, your 720m2 best use is a annexed unit max 70m2+ garage/storage that can not strata titled, unless it is a corner lot which depict a net density... which allows 2 x dwelling each can be 3 or more bedroom... My is a 600m2 but in a townhouse precinct, which allows a 2 x 4bed or 3 x 2bed
     
  15. sash

    sash Well-Known Member

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    They have growth...but expect to take profits as they traditionally fall back...again not to the original..but they do drop.

    Don't know about demand for T/H in Logan....lots of developers developing this sort of stuff there. Houses are the go....
     
  16. RetireRich101

    RetireRich101 Well-Known Member

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    I just did a postcode combined search of: 4132; 4127; 4114; 4131; 4118; 4129; 4128; 4207; 4205; 4123; 4133; 4119; 4113; 4109, include only Townhouse and Villa, and on New Constructions in my searches... there are total 20 listings. None in Kingston/Woodridge/Logan Central... There are a number of established townhouse and villa in the area

    who said I was doing townhouses? It is land in a townhouse zoning, which is permissible for single, duplex and MUD development. I am not interested in doing townhouse for now.

    are any of your post on Logan accurate? where are your "on the ground " information here?

    we welcome multiple perspective view/ discussion on this topic...., but just then I search for all your post in THIS thread... half of the stuff is either inaccurate or deliberate...and most of the post you're actually getting people to follow you to buy in Margate/Clontarf/Strathpine...and is not cool.
     
  17. sash

    sash Well-Known Member

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    Hey @Beano I remember mentioned you had a mate who did a T/H development ...was that Logan.

    How did that go for your mate?

    I am not being inaccurate...it is a fact in the outer suburbs T/H have not done well similarly in Strathpine as well as Logan.

    Just ask a bloke like @Simon L he has bought quite a few for his clients .... do ya think he is putting them all into Kingston and Woodridge T/H.

    Good see there is healthy debate ..... as always. ;) Onya...
     
    Last edited: 5th Nov, 2016
  18. smooth excellence

    smooth excellence Well-Known Member

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    As a side note, a double titled duplex is effectively two x townhouses.
     
  19. RetireRich101

    RetireRich101 Well-Known Member

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    correct, there is probably less than 1% dwellings in Logan LGA that are duplex. most suburban zoned are incapable being a duplex.

    Someone here is (or appears to be) implying Logan has oversupply of townhouse developments in the area... that same person also implying Logan has higher vacancy rate than any parts of SE QLD..
    • I am not saying MUD development is profitable in Logan. In fact I don't think it's profitable anywhere in Brisbane right now..
    • I am saying there isn't that many MUD development in Logan LGA..
    All I am saying is, given the following option:
    1. if your property(via zoning or configuration) allows you to build a dwelling next/behind the main dwelling AND be able to strata title it,
    2. if your property allows you build a dwelling next/behind the main dwelling, BUT can only remain same title (ONE title) as the main property
    ... I would opt for (1), as this gives you the flexibility to sell one off to reduce debt, keep new dwelling ( for depreciation )... so more option to consider..
     
  20. JDP1

    JDP1 Well-Known Member

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    Last edited: 8th Nov, 2016
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