Logan Central, QLD??
- Thread starter Milanista
- Start date
I don’t know the Logan Central as a suburb but here are some info (+ves only) about Logan region.
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.
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 Devank.. Some great info there.. Anyone got any negatives? Any parts to stay away from?
Is that right?
78% Australian Born
Born Overseas - Top 5 4207
United Kingdom
New Zealand
Germany
Philippines
Netherlands
http://www.domain.com.au/Public/suburbprofile.aspx?mode=research&searchTerm=Logan Village
Nice trolly, ill informed and derogatory first post
What, like the rest of Brisbane thats on a train line?
Better than no train at all like the majority enjoy.
What about buses, some as fast as 39 minutes from Logan Central to Brisbane CBD
http://jp.translink.com.au/travel-information/journey-planner/later-services?planner=Index
Is that right?
78% Australian Born
Born Overseas - Top 5 4207
United Kingdom
New Zealand
Germany
Philippines
Netherlands
http://www.domain.com.au/Public/suburbprofile.aspx?mode=research&searchTerm=Logan Village
Nice trolly, ill informed and derogatory first post
What, like the rest of Brisbane thats on a train line?
Better than no train at all like the majority enjoy.
What about buses, some as fast as 39 minutes from Logan Central to Brisbane CBD
http://jp.translink.com.au/travel-information/journey-planner/later-services?planner=Index
Unfortunately those statistics above are either incorrect, or, the 'general perception' does not support it.
It is indeed 'mainly' filled with housing commission suburbs, or, ex housing commission suburbs. I lived in Kingston a few years ago, personally did not mind, but I know a LOT of people who wouldn't poke it with a stick, mainly due to bad historical reputation.
Also, in certain pockets of Logan, there were some environmental issues from mines etc., for example, near the Logan Shopping Centre.
To sum it up, the suburbs are improving, but still has commission housing stigma.
I too have been following Logan Central over the past couple of months. It appears you can pick up a decent 3 bedroom house for $260,000 and rent it out for about $320/week.
Good cash flow but will there be any capital growth in the next 5 - 10 years???
I visited that massive shopping centre about a year ago (Hyperdome?) and was pretty impressed by the size and quality of the building and the shops within. Good employment opportunities for potential tenants.
I'm unaware of any immediate infrastructure going up in the near future. Been meaning to get my hands on the South Eastern corridor QLD plan that was suppose to pump in 1.5 (?) billion dollars into the area.
Certainly the area ticks a lot of boxes.
I wont get serious until around August/September but it has serious potential and will I continue to watch the area.
Good cash flow but will there be any capital growth in the next 5 - 10 years???
I visited that massive shopping centre about a year ago (Hyperdome?) and was pretty impressed by the size and quality of the building and the shops within. Good employment opportunities for potential tenants.
I'm unaware of any immediate infrastructure going up in the near future. Been meaning to get my hands on the South Eastern corridor QLD plan that was suppose to pump in 1.5 (?) billion dollars into the area.
Certainly the area ticks a lot of boxes.
I wont get serious until around August/September but it has serious potential and will I continue to watch the area.
Thanks for the info guys. I have read about its reputation but it won't be the first time a bad rep area turns into a good investment. Some people in the area have comented the tide could be changing
Certainly ticking a few boxes Biggaz.. I'll definitely continue keeping an eye on it as well.. Maybe end of the year for me.
Certainly ticking a few boxes Biggaz.. I'll definitely continue keeping an eye on it as well.. Maybe end of the year for me.
The Logan area has traditionally been seen as a bit of a 'derro-ville', I would equate it in a similar way to the Elizabeth area in Adelaide. In saying that though I am sure (just like Elizabeth) there are good neighbourhoods and bad ones. I cant give any specifics unfortunately, maybe a local could shed some light.
It is a bit of a Outer Suburbs Hub, sort of like a stand alone town that gets absorbed into a city as the city expands around it. Good access down the highway to the Gold coast and main highway access north to the city.
It is a bit of a Outer Suburbs Hub, sort of like a stand alone town that gets absorbed into a city as the city expands around it. Good access down the highway to the Gold coast and main highway access north to the city.
milanista,
Use this site from Logan Council to get a demographic profile of the region.
http://profile.id.com.au/Default.aspx?id=310&pg=138&gid=280&type=enum
but..
31.9% born overseas (compared to the qld avg of 17.9%)
46.4% of residents are renters (compared to qld avg of 30%)
check the household income levels, occupancy levels etc etc
Council websites always have a heap of info regarding statistics so always the best place to start to get an idea of a suburb profile.
Look into also the growth prospects for the region - Logan Council population projected to grow from 270K to 435K by 2031 with most population growth being in Greater Flagstone and Yarrabilba areas (essentially greenfied sites), but also some higher density in established areas.
Building approvals have been dropping for the past 2-3 years, could be a good sign as population increases.
Use this site from Logan Council to get a demographic profile of the region.
http://profile.id.com.au/Default.aspx?id=310&pg=138&gid=280&type=enum
but..
31.9% born overseas (compared to the qld avg of 17.9%)
46.4% of residents are renters (compared to qld avg of 30%)
check the household income levels, occupancy levels etc etc
Council websites always have a heap of info regarding statistics so always the best place to start to get an idea of a suburb profile.
Look into also the growth prospects for the region - Logan Council population projected to grow from 270K to 435K by 2031 with most population growth being in Greater Flagstone and Yarrabilba areas (essentially greenfied sites), but also some higher density in established areas.
Building approvals have been dropping for the past 2-3 years, could be a good sign as population increases.
It's like a lot of outer-suburban areas: there are some surburbs which have a reputation, and rightly so, as being poor, but there are a lot of good suburbs too. The blanket perspective a lot of people have of Logan (i.e. all of it) being a derro-area is ridiculous.
The better suburbs are generally considered to be around the Daisy Hill/Springwood/Cornubia areas, to the right of the M1 (if you're travelling towards Brisbane). The infrastructure is decent and the upgrade to the M1 around Springwood will help considerably when it's finished. The Hyperdome is the closest major shopping centre and has all the usual stores most people would need along with Cinemas, pubs etc.
Logan Central is generally considered to be a poorer area and I think that's an accurate description. I still drive through there from time to time and although it's looking a bit better than it did 10 years ago, it's still pretty much the same. Most of the suburbs surrounding Logan Central on the left side of the M1, such as Kingston and Slacks Creek, are of the same standard.
That being said, there are a lot of investment opportunities at Woodridge at a reasonable price. I had some friends buy investment properties there a few years ago and their CG have been good so far, without being outstanding. You'd just need to make sure you choose a decent part of the suburb and be very fussy with the quality of tenants.
The better suburbs are generally considered to be around the Daisy Hill/Springwood/Cornubia areas, to the right of the M1 (if you're travelling towards Brisbane). The infrastructure is decent and the upgrade to the M1 around Springwood will help considerably when it's finished. The Hyperdome is the closest major shopping centre and has all the usual stores most people would need along with Cinemas, pubs etc.
Logan Central is generally considered to be a poorer area and I think that's an accurate description. I still drive through there from time to time and although it's looking a bit better than it did 10 years ago, it's still pretty much the same. Most of the suburbs surrounding Logan Central on the left side of the M1, such as Kingston and Slacks Creek, are of the same standard.
That being said, there are a lot of investment opportunities at Woodridge at a reasonable price. I had some friends buy investment properties there a few years ago and their CG have been good so far, without being outstanding. You'd just need to make sure you choose a decent part of the suburb and be very fussy with the quality of tenants.
I compared Edens Landing, Waterford, TanahMerah and Daisy Hill. Have a look at the attachment which is based on the RP data.
First one shows the land values (per sqm).
Second page shows the house values (no land or townhouses).
Third one shows the price increase by following same properties which had more than 2 sales.
First one shows the land values (per sqm).
Second page shows the house values (no land or townhouses).
Third one shows the price increase by following same properties which had more than 2 sales.
These suburbs are not really considered "Logan Central".
To get a better idea, compare the suburbs Logan Central, Woodridge and Kingston.
Marg
Thanks again devank for the information.. It's interesting stuff.. Marg, you make a good point. These suburbs are the higher end suburbs and my research has shown the houses in these newer areas cost more for not much more rent than you can get in Central. Houses in Logan Central in most cases are pulling higher yields.
ID Profile is the first place I check and I have browsed the Logan City website. Thanks for sharing Ol School Skata!! Great info there.. Ticks a few boxes, don't you think?
Hi Milanista
I bought IP in Logan Central early this year. My IP is achieving 7.3% gross yield. In my case about $200/month out of pocket with 90% LVR. I am not sure about WA but compare to Melbourne BC, council and water charges are lot higher than Melbourne (about double). If you are going for gated complex with swimming pool holding costs will eat your rental income away. Generally North of Smith road is better according to my PM and Ewing road has one of the highest number of eviction in SE QLD. But Ewing Rd is quite long and lot of units and town houses there.
My place is near Logan central plaza and the train station as I thought it would be better to be close to shops and public transport presuming the area will improve in the future.
As for tenants, there a lot of Islanders. They normally have a bad reputation but my tenants are Islanders who pay rent on time and take good care of my IP. Vacancy rate is around 1% so should not take long to find tenants. I had several applications while I was renovating.
Good luck with your hunting!
I bought IP in Logan Central early this year. My IP is achieving 7.3% gross yield. In my case about $200/month out of pocket with 90% LVR. I am not sure about WA but compare to Melbourne BC, council and water charges are lot higher than Melbourne (about double). If you are going for gated complex with swimming pool holding costs will eat your rental income away. Generally North of Smith road is better according to my PM and Ewing road has one of the highest number of eviction in SE QLD. But Ewing Rd is quite long and lot of units and town houses there.
My place is near Logan central plaza and the train station as I thought it would be better to be close to shops and public transport presuming the area will improve in the future.
As for tenants, there a lot of Islanders. They normally have a bad reputation but my tenants are Islanders who pay rent on time and take good care of my IP. Vacancy rate is around 1% so should not take long to find tenants. I had several applications while I was renovating.
Good luck with your hunting!
I also have a property in Woodridge assuming when I refinace this comes in around what I am thinking my yeild will be between 7 - 8 % on 80% LVR the property will be close to neutral give or take $50 a month. Not convinced about the CG for the area in the short term as it has taken a hit over the last year or so as most areas have. The property currently rents for 360 per week and at this stage no issues with tenants.
I would buy there again if the right place came up, however I am leaning more to a location that will give better CG over the next 5 years to increase my equity quicker.
The agent I have been dealing with has said house sales are slow at the moment but the need for rentals is very tight and any that come on the market are snapped up.
You need to research the area you intent on getting an IP some areas are much better than others.
Brian
I would buy there again if the right place came up, however I am leaning more to a location that will give better CG over the next 5 years to increase my equity quicker.
The agent I have been dealing with has said house sales are slow at the moment but the need for rentals is very tight and any that come on the market are snapped up.
You need to research the area you intent on getting an IP some areas are much better than others.
Brian
when buying in this area consider that there are a lot of large families that can't afford to rent a large house but will pay more rent for something that can accommodate the family but might not be officially 5 bedrooms.
things like sunrooms and non legal height 'storage' or 'rumpus' rooms don't add a lot to the purchase price but will add a fair bit to the rent you can get. if you buy one of these '3 bedders' don't be surprised when you get applications from a couple with 4 kids and a gran. also, don't be surprised if during inspections there are extra people living there.
things like sunrooms and non legal height 'storage' or 'rumpus' rooms don't add a lot to the purchase price but will add a fair bit to the rent you can get. if you buy one of these '3 bedders' don't be surprised when you get applications from a couple with 4 kids and a gran. also, don't be surprised if during inspections there are extra people living there.
Inspected a few houses in the area and surrounding suburbs like this
One had a dual income setup where there was a single guy living in the attached granny flat and at least 8 people (more arrived after the inspection officially ended) living in the main house which was leased to a govt department. 8%+ yield with rent but might be a few extra issues with council and property management!