Bathurst or Logan Central

[Brady]

I have making few posts regarding both.

I am interested in people views on which they would recommend between the two.

I initially had planned to purchase in both immediately, but families financial situation has changed and dont believe that I could take on two properties and tie up cash/equity.

Logan area is cheaper and most are CF+

Bathurst I believe has better chance of CG and would be slightly CF-

Ideally they would of wanted to get into both markets, and before yesterday it would of been happening.

Thanks in Advance for any comments.


Brady

 

[Cherry Pro]

Hi Brady

See this comparison from the current API
Gross
3 yr growth % 5 year growth % 10 year growth % Rental l yield
------------- --------------- ---------------- ----------
Bathurst 6.9 3.0 8.3 5.8

Logan
Central -2.6 2.2 12.4 6.3


Logan Central is a no brainer for me, you can achieve yields in excess of 7.5%

Cheers,
Amelia

 

[devank]

Why do you think Bathurst has better chance of capital growth?
I don't know much about Bathurst but at least you can drive to a CBD in 30 min and drive to a beach in 10 min from Logan.

 

[Brady]

Why do you think Bathurst has better chance of capital growth?
I don't know much about Bathurst but at least you can drive to a CBD in 30 min and drive to a beach in 10 min from Logan.

I believe both have good potential for captial growth, but my I thought Bathurst may have some more immidate growth due to a flow on effect from nearby mine increasing demand. Bathurst already has good mixed industries.

 

[Newbieatlife]

i just bought 2 in logan

based on what i can see there are only 2 drawbacks;

crime stigma associated with certain suburbs in Logan
high percentage of renters vs owner occupiers - you can see this when driving around

Although prices have dropped in the past few years, I believe with yields where they are right now prices should begin correcting themselves over the next several months and continue to improve as it goes through gentrification

I notice also that a lot of the gated complexes common to the area are slowly shaving down their historically obscene body corporate levies

 

[Cherry Pro]

Hi Newbieatilife ...good to hear from another investor who has recently bought a couple in Logan. We are about to settle on our third in Marsden. What kind of yields are you achieving ..care to share ?

Best wishes,
Amelia

 

[Angel]

Beach in 10 minutes from Logan? CbD in half an hour. What, on an express train?

 

[devank]

Yes Angel. I mistook Logan Central for Logan. According to the google maps Brisbane to Logan Central is about 25Kms and 24mins drive time. Beach is taking about 30 mins. On the map it looked lot closer!

 

[Ed Barton]

Yes Angel. I mistook Logan Central for Logan. According to the google maps Brisbane to Logan Central is about 25Kms and 24mins drive time. Beach is taking about 30 mins. On the map it looked lot closer!

more like 45mins to either

 

[Brady]

Anyone know a good company for B&P in Bathurst area.

 

[Jake Milne]

I went to school in Bathurst... That is all.

 

[Andrew_A]

Well there's Logan.. And there's Logan Big difference between different suburbs and areas with some being quite pleasant and others not so much. I find it better to define an investment in terms of gross yield, easy figure to define and it's a lot more easy to pin down that '+ve cashflow' which is situation specific depending on things like your deposit, interest rate, depreciation and so on.

 

[chilliblue]

Anyone know a good company for B&P in Bathurst area.

We have used the below company on 2 occassions:

Acacia Pre Purchase Inspections Pty Ltd
Bathurst NSW 2795
(02) 6334 2255

 

[Brady]

We have used the below company on 2 occassions:

Acacia Pre Purchase Inspections Pty Ltd
Bathurst NSW 2795
(02) 6334 2255

Thanks...

Can you also recommend a conveyancer?

 

[Rolf Latham]

Thanks...

Can you also recommend a conveyancer?

Fiona Wood

Fiona Franke (nee Wood)
Principal
Gustafson Franke Lawyers
(inc. Fiona Wood & Company Lawyers)

PO Box 6345, GCMC Qld 9726
Tel: 07 5539 5858
Fax: 07 5539 5808

[email protected]


good service,well priced and knowledgeable in areas other than just conveyancing

t
arolf

 

[RandR]

Well there's Logan.. And there's Logan Big difference between different suburbs and areas with some being quite pleasant and others not so much. I find it better to define an investment in terms of gross yield, easy figure to define and it's a lot more easy to pin down that '+ve cashflow' which is situation specific depending on things like your deposit, interest rate, depreciation and so on.

I would agree with this post. Me personally I am not interested in the slightest in the not so pleasant suburbs of logan. Would probably take a ridiculously good deal to justify buying into some of these areas (im not a big fan of buying an investment property that a 'houso' can afford to live in) but thats me ... others im sure are different and some probably have success in that area.

There are quite a few suburbs in logan that are quite pleasant and I would happily look at.

Its off the beaten track as far as most people think geographically of logan. But imo acreage properties at Logan Village (there are quite a few still priced quite affordably) offer some decent cap gain potential when one looks at and considers the implications of Yarrabilba to the area and pricing of land within the development.

 

[TMNT]

a question for the geographically exposed people on here!

currently comparing Logan central and its surrounds, vs, bathurst vs west sydney

here is my aim
Logan central/woodridge/kingston
buy a run down place for about say $200kish, spend $10k, revalue $240kish

or

bathrust
buy a place for$160k ish, spend $10k, revalue $200kish

or

westsyd,eg willmott+surrounds,

either buy and hold or buy, $10k reno and revalue

obviously if the created sweat equity was all the same, then it would come down to CG..........

im quite good at seeing eachproperty and comparing on a micro level, but when comparing different cities, im hopeless

thank you very much

 

[TMNT]

dbl post no

 

[Brady]

I was torn between Logan & Bathurst at the end of 2012.

I always like to see figures and follow ups on how things went, so I'm hoping this can add some value to the forum.

Ended up buying a 3x2x2 highset brick in West Bathurst for $265,000 in Nov2012 tenanted at the time for $330p/w

Just over two years on. Automated valuation (CBA AVM) came back today at $307,000 (IMO these valuations can be on the conservative side). Rent has increased up to $350 same tenants never missed a payment, cant recall any maintenance issues (touch wood)

Anyone purchase in Logan around the same time able to share some figures? I would say both areas would of performed reasonably well.

 

[WattleIdo]

I would say Bathurst due to my own bias. The Central West is generally just a great area that seems to be going somewhere. (Orange went a bit OTT a few years ago with all the miners but will come back as more baby-boomers and immigrants move in.)
Problem is, I'm not sure if the Central West is at the top of a cycle or whether it will just keep increasing incrementally each year.

Edit: Oh. I see I'm about 2 years too late. Well, you made the right choice, Brady, didn't you. And the main thing is you bought well. Could've bought well anywhere - it happened to be in Bathurst in 2012. A very good time to buy.