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QLD Will Woodridge & Logan Central ever improve?

Discussion in 'Where to Buy' started by TyroneS, 19th Jun, 2015.

  1. TyroneS

    TyroneS Well-Known Member

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    This is a great post that was started inside SS and I wanted to continue it here as I'm interested in buying in this area as well.

    daz1979h [​IMG]

    Will Woodridge(QLD) ever improve?
    Hi People,
    With the location this suburb has do you think 5,10,20 years down the track that this place will improve?
    I live in Sydney and I look at places like Redfern,Balmain which have had bad names in the past but with population growth and good proximity to the city they are now premuim suburbs. Thoughts?
     
  2. RPI

    RPI Property Lawyer, Town Planner Business Member

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    Not in the same way. Logan is too far out of Brisbane to become a Balmain or Redfern. Will it improve significantly and become too expensive for many of the current residents to live in, I think so. Look at Inala as a comparison
     
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  3. Azazel

    Azazel Well-Known Member

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    There's no comparison to Balmain or Redfern. Bowen Hills, Fortitude Valley are probably more like Redfern and Balmain. Used to be semi industrial/workers accomodation, now becoming sought after inner suburbs. Probably more like Minto. As it improves, all areas will still be improving. I think there will still be a big difference between that area and the nicer areas.
     
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  4. RPI

    RPI Property Lawyer, Town Planner Business Member

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    What he said. FV was a drug haven when I was younger, Bulimba was a docky area that was a great place to go for a fight at the pub or to seek some illicit services, now it looks unrecognisable.
     
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  5. RetireRich101

    RetireRich101 Well-Known Member

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    Improve as in state/council spending more money on it?
    Improve as in less social economical/housing commission properties in the area?
    me thinks at least 20+years for both...

    But it will not stop price rise because of this. When all the $200k houses in 4114 are filled, it will move to $300k, then $400k...There are still 6% yields to be achieved in the area.

    There aren't that many stock of $300k properties in Brisbane in the 20KM radius. The Moreton Bay properties are bit further out.

    QLD 4114 would be similar to Auburn/Granville, if not 2770.
     
  6. bb1

    bb1 New Member

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    It will definitely improve. I have seen prices go up 20k per year for the past two years! 10 years ago the properties were like 100k or something stupid. Look at the difference between 4114 and the surrounding post codes. The main thing holding it back is stigma.
     
  7. Northy85

    Northy85 Well-Known Member

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    Brisbane is different to the other cities as being closer to the CBD doesn't necessarily mean quicker commutes. Take Kepperra and Arana Hills. They are both approximately 10km from the CBD but because of the road infrastructure it will take about 40 minutes to get there in peak hour. Where as Logan, 20km from the CBD, with the M1 it takes about the same time. Oxley is another example of this. At face value it's approximately 12km from the CBD but the roads in aren't too fast, plus it floods when the Brisbane river does it's thing. Suburbs close to Train stations are also cheaper in Brisbane for some reason. if you follow the train line and look at the suburbs at each stop they are generally cheaper than the suburbs further off the line. I believe once Brisbane gets a lot bigger this will change as driving will become worse and worse.
     
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  8. Be Developer

    Be Developer Property Developer Business Member

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    logan central may improve...
    Woodridge...been like that for last 10 years.. only getting worst.. couple of years ago someone got shot in their front yard...
     
  9. Nem

    Nem Member

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    There are almost regular shootings in Merrylands, and prices more then doubled in last few years.... just saying :)
     
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  10. TyroneS

    TyroneS Well-Known Member

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    It appears the Logan Central City Council is already going to be spending money on improving the area. This thread was started in SS: http://somersoft.com/forums/showthread.php?t=108233

    and there's potential from what I see, though I wouldn't know what the time frame would be..

    -------------------------------------------------------------------------------------
    Start small. Be consistent. And watch massive change take hold.
     
  11. Azazel

    Azazel Well-Known Member

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    It hasn't been as shootie in Sydney the last few months. I've got a theory about this...
     
  12. JDP1

    JDP1 Well-Known Member

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    Yeah I agree, Logan Central maybe, Woodridge most likely not in the next 10 years
     
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  13. Nem

    Nem Member

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    What is your theory??o_O
     
  14. Azazel

    Azazel Well-Known Member

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    Well... you know how all of the try hard Westie druglords always make sure they buy one of those weird out of place mansions out in the burbs for their Mum. Gotta put their illicit cash somewhere. I reckon they're all doing quite well for themselves with this Sydney boom, and don't really need to shoot each other over drugs at the moment. Everyone's getting in on it ;)
     
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  15. Cadbury99

    Cadbury99 Well-Known Member

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    I guess it depends on what one means by "improve".
    Given I own a property in Kingston but have no intention of living there, I'd like to see capital growth "improve" and for rents to go up.
    It's a fairly hot market right now, in that properties sell quickly, but prices are only increasing slowly and there hasn't been much growth in rent over last couple of years (At least not for me).
    What is going to be the trigger that gets growth going as per the western suburbs of Sydney?
    Not sure what kicked off Sydney's growth other than the recent FOMO furthering the increases - and it's not as if Sydney's Western suburbs all suddenly improved from a liveability point of view. Low interest rates have enabled many people to get on the bandwagon (many far to late IMO) but where/why did it all start?
    In terms of stigma there's lots of stigma with many of Sydney's western suburbs but it doesn't seem to be holding them back.
     
  16. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    A number of the suburbs within the Logan Council area have quietly moved 7-10% plus over the past 12 months. I imagine rents will follow growth.
     
  17. JDP1

    JDP1 Well-Known Member

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    This is a common argument I have heard...if places like struggle st Druitt and comparable western sydney suburbs can show good CG, then surely logan, woodridge etc can as well...
    To some degree yes, but to a bigger degree not so and the growth will likely be segmented and variable amongst markets in the logan area. Seen that already.

    The reason is that sydney has different characteristics and drivers and issues compared to Brisbane extending to logan.
    Sydney has supply issues. Brisbane , especially deep south ie logan area has not.
    Sydney is unaffordable. Average joes cannot afford much else unless they goto western sydney or something far out. Not so in Brisbane, logan and surrounds. Still plenty of affordable stuff around in good neighbourhoods somewhat close to the Cbd.
    Sydney has many jobs, and that keeps punters there, and a lot would like to have their properties either as ppor or close by as IPs.
    So what im saying is that the western suburbs in sydney are not exactly comparable to logan area as there is much more affordable choice in Brisbane whereas in sydney CBD/surrounds there is not.
     
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  18. Cadbury99

    Cadbury99 Well-Known Member

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    I've seen about 9-10% over the last 2 years for my property in Kingston but i'm impatient for more. 7% yield is good but....... :rolleyes:
     
  19. Cadbury99

    Cadbury99 Well-Known Member

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    I agree that areas of Sydney have supply problems, especially with lower priced property.
    Still something is making Logan a "hot" market right now - perhaps it's all the investors who can't afford Sydney anymore or believe Sydney is at it's peak?
     
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  20. See Change

    See Change Timing Lord Premium Member

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    Sounds about right ..

    Cliff
     
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