Logan Central, is it good place to invest?
- Thread starter Suraj
- Start date
I have one in Woodridge at the moment and about to go for rent agent appraisals are around 330 - 340 which will give me a yeild of 7.15% - 7.37%.
There are lot of places available one around the corner from me I missed by a day the owner (HAD TO SELL URGENT) dropped from $330000 and accepted just over $230000.
One at Marsden asking $300000 which is about 30 - 40 K below others of similar again MUST SELL. I'm considering an offer as the place needs a little work around the $210000. Will rent 330 - 360 when reno finished.
One in Kingston $230000 current 12 mth lease $290pw does not need a lot of work just internal painting, later down the track you could do a kitchen / bathroom.
Personally I like the area its close to everything my place, schools 1klm or less, 1 klm train, freeway about 2 klms, 100m bus, bunnings less than 1klm.
As with any area there are good spots and less than good spots so do your research.
Brian
There are lot of places available one around the corner from me I missed by a day the owner (HAD TO SELL URGENT) dropped from $330000 and accepted just over $230000.
One at Marsden asking $300000 which is about 30 - 40 K below others of similar again MUST SELL. I'm considering an offer as the place needs a little work around the $210000. Will rent 330 - 360 when reno finished.
One in Kingston $230000 current 12 mth lease $290pw does not need a lot of work just internal painting, later down the track you could do a kitchen / bathroom.
Personally I like the area its close to everything my place, schools 1klm or less, 1 klm train, freeway about 2 klms, 100m bus, bunnings less than 1klm.
As with any area there are good spots and less than good spots so do your research.
Brian
NBS, which streets do you consider 'good' in Kingston? Cheers
Best that you fly up there on some cheap fares and have a look around. It's considered rough by Brisbane standards but would hardly rate a mention if it was a suburb of Sydney. I can see a lot of potential in the area and the returns are quite decent. I have two properties in the area.
Yeah might have to - we already have properties in Balmoral however I know that Kingston is considered a 'different' area. There is a lot of government housing around Kingston?
I quite agree with you, Spend a week in Woodridge close to Logan C
when I last visited the Brisbane / G.Coast
I found Browns Plain is better suburb - not far from Logan C
I regularly mention this point to people from Melbourne and Sydney, rough.. sure.. but compared to what!
Sorry cannot help you re streets in Kingston, have done VERY little research in this suburb I was only quoting from a place an agent had taken me.
Suffice to say the area is multi cultural (including most of the suburbs mentioned).
The Government has sold a heap of thier respective homes in the area (agent indicated some 400 were sold earlier this year) and are now looking a bit further south to buy places / build?
An agent came by my place yesterday when I was there and during our talks indicted the market had dropped 10 - 15% and may dropped further in 2011.
So there are some bargains out an about as I see it.
Brian
Nothing against the suburb -like any other suburb some sections are good and some are NOT GOOD.
Following are some of the news from the local papers (do some GOOGLE)
Logan shown a frightening increase in armed robbery, production and distribution of drugs, assaults and homicides. In 2009 alone, Logan reported over 1300 assaults & also In Logan, eight murders and 1300 assaults were committed last year.
Logan City generally have the highest overall crime rates through-out the Brisbane Metropolitan Area.
QUEENSLANDERS are more likely to be sexually assaulted in Logan Central.
I kept a close eye on the market in late 2009. I was interested in Woodridge and Slacks Creek. It looks like prices for a 2 bed unit in these areas are about the same now (if not cheaper) then back in 2009. It seems that growth has stagnated at present - who know's what the future holds.
I think it will do well long-term. The PM's I spoke to said Beenleigh/Eagleby are much better places now than they were 5 or 10 years ago (from a socioeconomic point of view). Maybe they'll be saying the same in 10 years time.
I think it will do well long-term. The PM's I spoke to said Beenleigh/Eagleby are much better places now than they were 5 or 10 years ago (from a socioeconomic point of view). Maybe they'll be saying the same in 10 years time.
Crime rates in inner-Brisbane are between four and six times higher than in outer areas, while western suburbs are the safest, the latest police statistics show.
Logan also recorded higher than average crime rates, while there were more offences per capita in north Brisbane than in the south.
The Queensland Police Service Statistical Review released yesterday shows crimes across categories including homicide, assault, fraud, theft and drug and traffic related offences are significantly worse in the Brisbane Central police district, which covers the CBD and suburbs including Fortitude Valley, Spring Hill and out to parts of Ashgrove.
Advertisement: Story continues below During 2009-10, there were 1760 reported offences against people in Brisbane Central, such as murder, assault, rape and robbery. That equals a rate of 2757 per 100,000 people.
In comparison, the rate of similar offences in Brisbane West district was 271.
North Brisbane also recorded a high rate (544 offences per 100,000), followed by Oxley district (494), South Brisbane (492), Pine Rivers (402) and Wynnum (401).
The state average was 699 offences per 100,000 people.
There were five reported murders for every 100,000 people in Brisbane Central, compared to three in Ipswich and one each in North Brisbane and Pine Rivers districts. Oxley district recorded six attempted murders per 100,000 people.
The rate of assault was almost 10 times higher in inner-Brisbane than all other areas, with 1302 reports. Logan also was high, with about twice as many per capita.
Logan also was second behind Brisbane Central for sexual offences and robberies.
The rate of property offences, including fraud, identity theft and unlawful entry, in Brisbane Central was 15,555 per 100,000 properties – four times the state average of 4473.
It was 5402 in North Brisbane and 4470 in South Brisbane.
However, homes in the Oxley district were significantly more likely to be broken into than anywhere else in the state, with 1001 incidences of unlawful entry per 100,000 homes. The majority of those involved violence.
In comparison, 761 homes per 100,000 were broken into in Brisbane Central and 550 per 100,000 in Queensland.
The report shows the overall crime rate dropped 1 per cent in 2009-10 compared to the previous year, despite a 4 per cent increase in the number of crimes against a person.
Police Minister Neil Roberts said year-to-year offence figures were volatile but the overall rate of crime had reduced 28 per cent over the past 10 years.
"The trend over the last 10 years has been significantly downwards," he said.
"Crime rates are down and clearance rates are up."
Yes I agree logan has its issues but you just have to look at a few others that are not that flash either.
I will say where I live in Brisbane (The Gap) I have had more stuff hmmmmmm walk away than I have ever had in any of the places I have lived in or owned shorncliffe, sandgate, strathpine, petrie or woodridge.
Brian
Logan also recorded higher than average crime rates, while there were more offences per capita in north Brisbane than in the south.
The Queensland Police Service Statistical Review released yesterday shows crimes across categories including homicide, assault, fraud, theft and drug and traffic related offences are significantly worse in the Brisbane Central police district, which covers the CBD and suburbs including Fortitude Valley, Spring Hill and out to parts of Ashgrove.
Advertisement: Story continues below During 2009-10, there were 1760 reported offences against people in Brisbane Central, such as murder, assault, rape and robbery. That equals a rate of 2757 per 100,000 people.
In comparison, the rate of similar offences in Brisbane West district was 271.
North Brisbane also recorded a high rate (544 offences per 100,000), followed by Oxley district (494), South Brisbane (492), Pine Rivers (402) and Wynnum (401).
The state average was 699 offences per 100,000 people.
There were five reported murders for every 100,000 people in Brisbane Central, compared to three in Ipswich and one each in North Brisbane and Pine Rivers districts. Oxley district recorded six attempted murders per 100,000 people.
The rate of assault was almost 10 times higher in inner-Brisbane than all other areas, with 1302 reports. Logan also was high, with about twice as many per capita.
Logan also was second behind Brisbane Central for sexual offences and robberies.
The rate of property offences, including fraud, identity theft and unlawful entry, in Brisbane Central was 15,555 per 100,000 properties – four times the state average of 4473.
It was 5402 in North Brisbane and 4470 in South Brisbane.
However, homes in the Oxley district were significantly more likely to be broken into than anywhere else in the state, with 1001 incidences of unlawful entry per 100,000 homes. The majority of those involved violence.
In comparison, 761 homes per 100,000 were broken into in Brisbane Central and 550 per 100,000 in Queensland.
The report shows the overall crime rate dropped 1 per cent in 2009-10 compared to the previous year, despite a 4 per cent increase in the number of crimes against a person.
Police Minister Neil Roberts said year-to-year offence figures were volatile but the overall rate of crime had reduced 28 per cent over the past 10 years.
"The trend over the last 10 years has been significantly downwards," he said.
"Crime rates are down and clearance rates are up."
Yes I agree logan has its issues but you just have to look at a few others that are not that flash either.
I will say where I live in Brisbane (The Gap) I have had more stuff hmmmmmm walk away than I have ever had in any of the places I have lived in or owned shorncliffe, sandgate, strathpine, petrie or woodridge.
Brian
I own in an IP home in Kingston on a large-ish block. Prices have been flat or falling over the last two years which to me represents good buying at the moment.
Government is spending alot of money in the area.
My tip is find a property manager who has worked in area for several years and ask them about the property BEFORE you buy. They can tell you about whether you are buying in a good or bad street.
Not an area that will give you a warm fuzzy feeling when you visit but should give you solid rent and price growth long term.
Some areas of Logan, Kingston e.t.c are currently in the process of being re-zoned. A large block in one of these areas may be great for future development. Check with the council about which areas are being re-zoned.
David