Investing in QLD logan Central Area

[devank]

Few more positives:

Hyperdome Shopping Centre:
Logan Hyperdome Shopping Centre, with 230 stores, is the largest shopping
centre in Logan City and the largest single story shopping centres in Australia.


Health Facilities:
There is a large major public hospital in Logan with significant recent
improvements including installation of an MRI machine, redevelopment of the
intensive care unit, emergency department and transit lounge and security
services area. Investment into this redevelopment totals many millions of
dollars.

Education Facilities:
The Logan LGA has approximately 35 primary schools, 13 state secondary
schools, 20 non-state schools, 50 special schools, 1 university and 1 TAFE
college.


Transport Links:
Train stations are located at Edens Landing, Homeview, Trinder Park,
Woodridge, Kingston, Loganlea and Beenleigh.
Additionally the Logan area has access to major road links including Logan
Road, the Pacific Highway and the Gateway Motorway.

 

[Beanie Girl]

Well I can tell you the following.
Roads and maintenance 158 mil
Parks and maintenance 43.1 mil
Community infrasturcture 27.8 mil
Libraries and cultural 14.6 mil
Meakin sports complex 3 mil
Shailer Pioneer Park 1.2 mil

Few more positives:

Hyperdome Shopping Centre:
Logan Hyperdome Shopping Centre, with 230 stores, is the largest shopping
centre in Logan City and the largest single story shopping centres in Australia.

Health Facilities:
There is a large major public hospital in Logan with significant recent
improvements including installation of an MRI machine, redevelopment of the
intensive care unit, emergency department and transit lounge and security
services area. Investment into this redevelopment totals many millions of
dollars.

Education Facilities:
The Logan LGA has approximately 35 primary schools, 13 state secondary
schools, 20 non-state schools, 50 special schools, 1 university and 1 TAFE
college.


Transport Links:
Train stations are located at Edens Landing, Homeview, Trinder Park,
Woodridge, Kingston, Loganlea and Beenleigh.
Additionally the Logan area has access to major road links including Logan
Road, the Pacific Highway and the Gateway Motorway.

Thanks NBS and Devank! That's great information!
Yes, it does give me confidence that they are taking the place seriously and not letting it just rot in the dumps. I spoke to a Chinese agent the other day and he noticed quite a few mainland Chinese both staying in the area and setting up businesses around the area. The agent was saying that to these Mainland Chinese people, Woodridge was good value for money because it's still only 10-15 minutes away from Sunnybank (lots of Asians restaurants there) yet 100-200K cheaper.

I know that around Garfield Street, Woodridge, there's an Asian/Chinese gentleman who's applied for approval for a hotel but is waiting for height approval from Council. Logan City Council gave me this information.

But it's quite a multi-cultural place, isn't it? I like multi-cultural places, there's a buzz and a life about them you don't get in mono-culture areas. Yeah, I think Woodridge is far too underrated by the people. The fact that there is an Ikea, Bunnings, Hyperdome, Anaconda nearby indicate that businesses expect the suburb to rejuvenate and gentrify quite rapidly.

 

[Sheryn]

Wembly Drive - Logan

Go for a drive along Wembly Road right out to Logan Motorway, there is a lot of earthworks being done there for future industrial buildings.

I would think the easy access to Logan Motorway will encourage development to happen quickly.


Regards
Sheryn

 

[NBS]

I noted in the paper today Woodridge is the most affordable Qld suburb with medium home price only $265000.

Not sure if I agree with this statement was just interesting to read.

Brian

 

[Beanie Girl]

I noted in the paper today Woodridge is the most affordable Qld suburb with medium home price only $265000.

Not sure if I agree with this statement was just interesting to read.

Brian

Yeah, this was the full report in Courier Mail Brisbane : -
Woodridge is the most affordable suburb in THE WHOLE OF AUSTRALIA!
Not cheapest suburb in Australia, but affordable taking into account median house prices and price-to-income ratios.

New national report has named the most affordable suburbs in Australia, and Woodridge has come out on top

* Michelle Hele
* From: The Courier-Mail
* July 28, 2011 1:01AM

Woodridge wins Australia's most affordable suburb gong.

2 Mins on High - Property bargains

A SUBURB about 20km south of Brisbane has been named in a national report as the most affordable in Australia. Do you know which one?

IF YOU'RE looking to buy an affordable property, you need travel no further than about 20km south of Brisbane.

Woodridge has been named in the latest AMP.NATSEM report as the most affordable suburb in Australia when taking into account median house prices and price-to-income ratios.

The suburb has a median price of $265,000.

Suburbs surrounding Brisbane in Logan, Ipswich and Caboolture rated well in the report.

Eleven suburbs were found to represent the most affordable capital city suburbs in Australia.

The news was not all good though, with Queensland found to have the highest number of mortgage-stressed households.

AMP financial planner Tony Rigby said many regional areas also made it on to the affordable list, but he said there was widespread housing stress.

Home owners are considered to be in housing stress if they are spending more than 30 per cent of their after-tax income on housing.

``Of the non-capital city areas, Queensland is suffering the highest number of stressed households,'' Mr Rigby said.

``Throughout the state 11 per cent of households are in housing stress and 5.6 per cent are in extreme stress, spending more than half their income on housing costs.''

He said first home buyers accounted for 60 per cent of those in mortgage stress.

The report said the high level of housing stress could be related to the high demand for housing in sea-change areas of the Gold Coast and Sunshine Coast where incomes of retirees may be quite low and with the mining boom in inner regional areas.

Of the 17 Australian suburbs considered affordable, Brisbane and its surrounds featured prominently with Kingston, Slacks Creek, Inala, Greenbank, Ipswich, Caboolture, Waterford, Deception Bay and Marsden also on the list.

While many would figure bluechip suburbs like Ascot, New Farm or Bulimba would be high on the list of being our most least affordable suburbs, it was Ellen Grove in the western suburbs with a median of $1.32 million which topped that list.

Mr Rigby said the overall picture was bleak with every capital city now considered unaffordable or severely unaffordable.

He said in the past 10 years the national median house price had doubled to $417,000 while the average after-tax income had only risen by 50 per cent to $57,000.

He said it would take about nine years of a flat property market with incomes continuing to grow at current rates to make it more affordable.

``Significant, widespread house price drops appear unlikely in Australia, meaning that housing will remain unaffordable for many years to come,'' the report says.

According to the Australian Property Monitors Quarterly Housing Report, Brisbane's median house and unit prices have fallen for their second consecutive quarter.

Houses dropped 1.3 per cent and units 2.6 per cent, resulting in a drop for the year for houses of 4.9 per cent and 3.9 per cent for units.

 

[dan75]

Few more positives:

Hyperdome Shopping Centre:
Logan Hyperdome Shopping Centre, with 230 stores, is the largest shopping
centre in Logan City and the largest single story shopping centres in Australia.



Transport Links:
Train stations are located at Edens Landing, Homeview, Trinder Park,
Woodridge, Kingston, Loganlea and Beenleigh.
Additionally the Logan area has access to major road links including Logan
Road, the Pacific Highway and the Gateway Motorway.

I just wanted to add to these: Grand Plaza Shopping Center including its main Bus hub, and the Logan Motorway linking the Pacific Motorway and Ipswich Motorway.

Have a 4bd brick highset in Browns Plains rented at $500 per week. But to the member that bought those 3 units/townhouses in the space of 3 months with those returns... nicely done!

 

[NBS]

Well just had mine bank valued to refinance and came in at $280000 the place is a 3x1x1 In the current market I'm happy enough with that considering agents valued the place in the $2900000 - $3150000 bracket.

There are some good buys in the area as with most locations there are good areas and not so good areas, just need to search.

Brian

 

[Investor78]

I'm not surprised Woodridge was listed as the most affordable suburb, it has been like that for a long time. I remember about 9 or 10 years ago a couple of friends bought into Kingston and Slacks Creek (suburbs surrounding woodridge).

The friend in Kingston paid $78,000 for a 3BR highset house on 800m2. The other friend payed $52,000 for a 2BR flat in Slacks Creek.

If they were still holding those properties to this day they would be looking at 300 to 400% capital growth in that period, not bad!

Thought I might also mention that the South Eastern busway is also being extended further south at the moment from Eight Mile Plains to Rochedale and Springwood. They are widening the pacific motorway around the slacks creek (near Ikea) and Daisy Hill areas all the way down to the Logan Motorway as well.

This will be really good for the Logan area, although it could be a few years before the busway extension is ready. On their website they say it will be completed in stages between 2011 and 2026!

http://www.tmr.qld.gov.au/Projects/Name/S/South-East-Busway-extension.aspx

 

[TigerBNE]

I'm not surprised Woodridge was listed as the most affordable suburb, it has been like that for a long time. I remember about 9 or 10 years ago a couple of friends bought into Kingston and Slacks Creek (suburbs surrounding woodridge).

The friend in Kingston paid $78,000 for a 3BR highset house on 800m2. The other friend payed $52,000 for a 2BR flat in Slacks Creek.

If they were still holding those properties to this day they would be looking at 300 to 400% capital growth in that period, not bad!

Thought I might also mention that the South Eastern busway is also being extended further south at the moment from Eight Mile Plains to Rochedale and Springwood. They are widening the pacific motorway around the slacks creek (near Ikea) and Daisy Hill areas all the way down to the Logan Motorway as well.

This will be really good for the Logan area, although it could be a few years before the busway extension is ready. On their website they say it will be completed in stages between 2011 and 2026!

http://www.tmr.qld.gov.au/Projects/Name/S/South-East-Busway-extension.aspx

I think the same direction, SE busway will be finished in the late 2014.

 

[Cherry Pro]

Just checking with the new busway to be completed, will it cut travel time to the city and the GC by 10 or 20 minutes each day ?