QLD Thoughts about Marsden, Logan City Council?

Discussion in 'Where to Buy' started by adam90, 22nd May, 2021.

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  1. adam90

    adam90 Member

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    I'm looking at purchasing an IP in greater Brisbane with low holding costs. CG is obviously desired, but the big thing for me is to have low holding costs. I'm thinking Marsden is a smart choice for the following reasons:
    • "central" logan location that's not too far to M1
    • large block sizes
    • not as bad as 4114 suburbs, but still has a relatively good cash flow
    One of the houses I'm looking at is on a 728m2 block. I've checked the reconfiguring a lot page on the LCC website, but can't work out if it would be possible to subdivide in the future.

    Reconfiguring a lot – Logan City Council

    Any subdivision would have to be a battleaxe block. The house is low density residential in suburban precinct, so the minimum lot size is 350m2, and rear lots are permitted. There's side access, but it's not that big. Does anyone know if simply being able to drive a car to a potential rear lot is enough? Or is there a minimum width for this too?

    Thanks
     
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  2. thunderstrike888

    thunderstrike888 Well-Known Member

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    Marsden was named one of the hottest suburbs in Logan on a recent article. I think it was posted on the Logan thread or some other one.

    It recently had multiple sales price records broken which was mentioned in that article. I'd have zero hesitation buying there. Its a gentrifying suburb and the yields are still decent with good capital growth potential.

    Your local. Find something that needs some TLC and value add to it. Basic paint, new tiles in kitchen, bathroom, flatpack kitchen and cheap laminate flooring will add $50k-$100k+ to the value of your home if you can do these things yourself for under $20k material cost.

    Regarding your driveway q no idea. Just call council and ask.
     
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  3. Rich2011

    Rich2011 Well-Known Member

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    Does anyone know if simply being able to drive a car to a potential rear lot is enough? No.

    Or is there a minimum width for this too? Yes.
     
  4. boganfromlogan

    boganfromlogan Well-Known Member

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    Value adding is a good strategy gor Logan area and Marsden. You could seek a larger block in that area 900m or more?

    There are plenty of options in addition to Marsden. But it is fine. Look for good zoning and large land parcels.

    A nice house and large block in Meadowbrook has popped up. But pricey.

    Good luck
     
  5. RichardN

    RichardN Well-Known Member

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    Logan/ Marsden, are these areas nit overcrowded with investors. I believe more than 55% are investor owned and in see a lot of rental properties are in market. And old houses are completing with brand new houses.

    Also with the increased prices, yields come down to 4.5 % or less.

    Love to hear others thoughts here if its worth to buy in Logan council / Marsden if
    Its worth.
     
  6. Closet

    Closet Well-Known Member

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    Have a look at the vacancy rates and growth between 2017 to 2019 in the last mini downturn. Whilst not an issue now the areas with higher proportions of investors struggle in the downtimes when investor interest wanes. THis was after a lot of investors flooded these areas and started to bail when things weren't going so well. Compare them to the oo suburbs and the right ones had low vacancy rates and still grew.
     
  7. RichardN

    RichardN Well-Known Member

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    Thank you for reply. So you think its not worth to buy in Logan.

    Any other suburbs on QLD do you suggest with the similar price range.
     
  8. Harveys

    Harveys Well-Known Member

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    Thats not what he said, he sugested to look at OO suburbs.
     
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  9. gach2

    gach2 Well-Known Member

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    I believe 4m for a reconfiguration of lot though im not sure if the dwelling also has to be setback from the 4m

    For a building format plan (strata) you could probably get away with parking being provided anywhere on the lot as long as it meets AS2980 (I think thats the one or something similar)
     
  10. Closet

    Closet Well-Known Member

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    Plenty of good suburbs in Logan you just need to target the right ones for your strategy and risk profile. Have a look at the Logan thread
     
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