Looking at a 3-bedroom, 1 Bathroom house on 457 m2 block of land in Meadowbrook, QLD. It is within walking distance (5-min walk) to hospital, Woolworth, IGA, cafes and MacDonalds and the train station. The house is in an immaculate condition. Zero work need to be done. Just a bit under $400K. Based on Meadowbrook Master Plan, you can build a building up to 18m height in the future. What do you think?
Seems to me a fair price Is it an IP? Vacancy rates seem to trend up a lot. Also majority of market is renters...
Thank you for your reply. Meadowbrook shared the same postcode with Loganlea 4131. I had a look at some properties in Loganlea as well. And I think I know the answer to why the vacancy rates seem to trend up a lot in Loganlea 4131.
I'm not an expert, I personally think that the conditions of the houses in Loganlea on the market are less attractive to potential renters compare to the surrounding suburbs for the similar price. Also Loganlea is ranked 213rd best suburb on Homely. Most of the properties on the market in 4131 are located in Loganlea (a quick search on realestate website, you can see 54 are listed in Loganlea while 9 in Meadowbrook) , that is why the vacancy rates seem to trend up for the postcode. Meadowbrook is an area that is consistently in high demand. Meadowbrook ranked 36th best suburb on Homely. Correct me if I'm wrong. Thank you.
Meadowbrook is in much higher demand than Loganlea as far as I know. However it still has a high percentage of renters. Meadowbrook is absolutely lovely and is in a killer area. Look here on in depth analysis
Meadowbrook is nice, make sure you are south of the freeway and a little distance from the freeway. Loganlea is a lot cheaper, arguably more $$ to be made in Loganlea, but i think meadowbrook is a winner myself. It already looks nice whereas Loganlea has to lose a couple of hte older houses in favour of new or townhouses to improve.
Thank you boganfromlogan for your reply. The property is located south of the freeway, right next to Logan Hospital.
