QLD Woodridge - advice

Discussion in 'Where to Buy' started by mick0123, 14th Dec, 2016.

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  1. mick0123

    mick0123 Active Member

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    Hi Guys...I am looking at a property in Woodridge, Logan. Can you please give me your thoughts.

    3x1x1 sale price is circa $295k.

    Thanks
     
  2. Big Will

    Big Will Well-Known Member

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    There is a reason why Woodridge is cheap...
     
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  3. MikeyBallarat

    MikeyBallarat Well-Known Member

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    General rule with Woodridge is that further north/closer to Karawatha Forest is the more desirable part of the suburb.

    As much as some people who have never been there like to believe it, Woodridge isn't Compton. It isn't even Inala. It's not some ghetto, and if anything it's actually a touch nicer than neighbouring Logan Central/Kingston. I know a fair few people born/raised in the 4114 area and they're all pretty okay :)
     
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  4. Scott Townsend

    Scott Townsend Well-Known Member

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    Pretty broad question - What is the condition of the property? How much land is it on? High set? Low set? Potential for dual key/granny flat?

    $295k is a great price if its sitting to one side on a block thats 700m2+, however possibly a not so great price if its run down, with no land.

    Is there a link to the advert?
     
  5. mick0123

    mick0123 Active Member

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  6. Dmarkw

    Dmarkw Well-Known Member

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    There no real difference between WR and Logan Central, and historically prices have pretty much tracked each other. There's probably more variation between pockets within each suburb, then suburbs themselves. I think you could look for the same type of property in either which would give you more options.

    Kingston similar as well, but has seemed to lag slightly in growth after WR / LC in previous cycles. Also need to avoid that area with soil contimantion in Kingston.
     
  7. Rolo

    Rolo Well-Known Member

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    I went to Compton in September. its not too bad actually. I'd rather live there than Woodridge personally...
     
  8. Michael_X

    Michael_X Mortgage Broker Business Member

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    In short - not a good buy.

    Henty St is quite sloppy, and you can see from the block that it slopes from back to front so decreases the downstairs potential. This property is always at risk of drainage issues.

    So essentially, you are buying a 3/1/1 with no potential and for that price you can do better in the area. If it was around $270,000 may consider it, as the rental return will be $330 per week so at least gives you close to 6.5% but still the sloping block is too much.

    A good way to check is go to Logan City Council - Logan Planning Scheme, use the OM-08 Landslide Hazard and Steep Slopes Area Overlay and look out for the brown wiggly lines. Go north a few streets and the blocks are flat.

    On Woodridge, as mentioned above the northern pocket is more desired. Don't buy around Woodridge Station, pretty rough there.

    Hope this helps,
    Michael
     
  9. Beanie Girl

    Beanie Girl Well-Known Member

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    As Mike mentioned, mick0123, that slope's a killer!
    The ground floor level literally disappears when you look at the property from the backview.
    When it rains hard for several weeks and the ground is totally soaked up with water,
    water can leak into the downstairs level
    which is probably a good reason why it hasn't been built under as can be seen in the first photo.
    A lot of Henty St blocks are sloping, either side to side or back to front,
    can make for great views as Henty St is higher ground than the roads in front it (e.g. Smith Rd) but you gotta check out the slopes or contour of the land!
    Check the Logan Interactive Map, as Mike mentioned and click on 'contours'
     
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  10. Marg4000

    Marg4000 Well-Known Member

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    Here's a tip.

    Most experienced forum members NEVER disclose the link to a property they are interested in.

    You never know who is looking to buy in the area, and if it is a really good buy you may find competition from other forum members.......

    And at the very least, a lot of us will go to the link to see what you are talking about, maybe leading the agent to believe there is far more interest in the property than there actually is.
    Marg
     
  11. Phase2

    Phase2 Well-Known Member

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    I went to Woodridge once when I was about 19. I'd heard the stories and just had to see the Holden's full of "Bevans" (Bevan = old QLD slang for Bogan) chasing each other and beating the crap out of each other with baseball bats.

    Sadly (luckily?) I didn't see anyone wielding a bat. The rest was pretty much true. My mates and I left and never returned.
     
  12. Angel

    Angel Well-Known Member

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  13. Whitecat

    Whitecat Well-Known Member

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    I am no fan of Woodridge specifically. But $295k...
     
  14. Whitecat

    Whitecat Well-Known Member

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    Its amazing that they built a housing commission suburb then called one of the main roads Compton Rd. Maybe just an amusing coincidence.
    (For those who aren't aware Compton is/was one of the hardest gang neighbourhoods in LA - IceCubes famous album was 'Straight outta Compton')
     
  15. Whitecat

    Whitecat Well-Known Member

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    Happens consistently. If it was an amazing deal imagine how many on here would have LOC to just grab it.
    Anyway how do you know this isn't the seller in disguise :)
     
  16. MikeyBallarat

    MikeyBallarat Well-Known Member

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    Don't worry the irony isn't lost on me! When I lived in QLD I would find myself driving down there with mates, and I would always make a crappy joke about being in Compton ;)

    That said is Woodridge really that awful? I reckon those southern BCC suburbs are worse to visit (Inala, Oxley etc) and it has a nicer feel than any Melbourne houso 'hood I can think of (including the $1m ones!)

    North of Smith Rd is where it's at. Lovely old couples live there. I could live there. But it's probably a tough sell when Slacks Creek, Loganlea/holme etc are not much more.
     
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  17. XBenX

    XBenX Well-Known Member

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    Epic bump... searching for Woodridge threads.

    Did you buy this? Not a lot of growth so far, but a cheap entry and decent yield.

    What are the prospects for growth of this northern pocket of Woodridge?
     
  18. 2FAST4U

    2FAST4U Well-Known Member

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  19. XBenX

    XBenX Well-Known Member

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    I wasn’t looking for more :) Just explaining why I was bumping such an old thread.
     
  20. Magnet

    Magnet Well-Known Member

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    If anyone is interested we are selling our investment property in Woodridge. We have great long term tenants paying $350 a week. We are selling all our investment properties as we can finally afford our own home in Sydney. Unfortunately can’t keep any of our investments as we need all our $$$ for our home purchase. Here is the link.
    https://www.realestate.com.au/property/65-jean-st-woodridge-qld-4114
     

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