Or those who saw what was happening and bought just out side the central area in the last couple of months .
Problem with buying at the bottom is that you never know how long before it moves.
Cliff
Logan Central, QLD??
- Thread starter Milanista
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Or those who saw what was happening and bought just out side the central area in the last couple of months .
Problem with buying at the bottom is that you never know how long before it moves.
Cliff
Nice areas in Logan under and around 400k are moving IMHO based on the fact that there are less For Sale signs on houses in good brick subdivisions.
Prices haven't moved up stock is being sold down.
Closer to Brisbane CBD developer type properties have moved up 50k ( talking to REA that went to school with our son) and less stock on the market and not much coming on ATM.
Sheryn
Prices haven't moved up stock is being sold down.
Closer to Brisbane CBD developer type properties have moved up 50k ( talking to REA that went to school with our son) and less stock on the market and not much coming on ATM.
Sheryn
I don't think the 'herd' has entered the market yet.
Personally I can never predict the hot spot or I'm not wealthy enough to risk in such locations. So the best bet is to go in when things start moving upwards. I would rather enter at 7 or 8 or 9 O'Clock than taking risking at 6 O'Clock.
Disclaimer: We bought an IP in Edens Landing last year thinking it was 6 O'Clock
Edens landing is a great tightly held suburb, I think will always do well over time
Looks like there is more under contract now than ever
There were quite a few sales in August and there r defiantly more people looking in the re stats
My agent in Beenleigh said the same thing recently
And I was talking to an agent at Harcourts in the Logan area this morning and he said that August 2013 was their busiest in 10 years, they sold 37 properties as compared to the average 10 - 12 sales they achieve on average per month.
I'm hoping we're not at 9 o'clock as yet
And I was talking to an agent at Harcourts in the Logan area this morning and he said that August 2013 was their busiest in 10 years, they sold 37 properties as compared to the average 10 - 12 sales they achieve on average per month.
I'm hoping we're not at 9 o'clock as yet
Was that Harcourts at Logan Central?
I get emails/updates from an agent in Browns Plains and they are calling properties under $600,000 a sellers market.
Is this house or town house?
House,
three properties listed day 1 by the same agent, one for $209, $215k $229,k
I was in the area so checked them all out , put in an offer, all sold by Day 1 PM/Day 2 AM
I've just started looking around this area too, feel I may have left it a bit late though!
I'm in the lower end atm and thinking about 2brm town houses, if i can get in at the right price still.
I haven't much idea wrt the area yet. Some of these town houses are in MASSIVE complexes!! Like 60 odd town houses
Anyone with experience/comments on buying into these large complexes in Woodridge etc?
I'm in the lower end atm and thinking about 2brm town houses, if i can get in at the right price still.
I haven't much idea wrt the area yet. Some of these town houses are in MASSIVE complexes!! Like 60 odd town houses
Anyone with experience/comments on buying into these large complexes in Woodridge etc?
I haven't much idea wrt the area yet. Some of these town houses are in MASSIVE complexes!! Like 60 odd town houses
I recall there being a thread re large complexes in Brisbane. Strata and rates are such a turnoff in Brisbane.
I was looking at that actually, a townhouse came up, asking price $175k, renting for $260/wk. Say you can pick it up for $170k, that's almost 8% return.
$260*52 = $13520
BUT
$1600 Strata
$2600 Council rates (figure supplied by agent)
$9350 Interest ($170k @ 5.5%)
$1082 PM (assuming 8%)
$800 Water rates (not sure if already included in Council rates figure)
$1000+ Miscellaneous repairs etc
$16432 total expenses
That's negative to the tune of nearly $3000 a year excluding depreciation if any.
Starting to wonder if it might be better to buy a house instead, although can you really go wrong when buying at ~$170k? It may be negatively geared but it's still below replacement value.
$260*52 = $13520
BUT
$1600 Strata
$2600 Council rates (figure supplied by agent)
$9350 Interest ($170k @ 5.5%)
$1082 PM (assuming 8%)
$800 Water rates (not sure if already included in Council rates figure)
$1000+ Miscellaneous repairs etc
$16432 total expenses
That's negative to the tune of nearly $3000 a year excluding depreciation if any.
Starting to wonder if it might be better to buy a house instead, although can you really go wrong when buying at ~$170k? It may be negatively geared but it's still below replacement value.
Few points..
- Generally I would include only 45 weeks of rent to cover the vacancy and re-let fees.
- Water rates may have been included in the strata fees.
- Miscellaneous repairs of $1000 seems a bit high for a strata property.
- Landlord insurance cost is missing
- I assume the building insurance is included in the strata fees
- 3000/170000 = 1.76 %... so if you can get 7% CG then it may be ok!
Yeah that would be a no go if negative for me. Some of these were selling in the $150s and low $160s only a few months ago, if you could pick one up at that price still and with low strata ~$900 in the larger complex, it could be neutral (I've been told the $2600 covers water rates?).
I think you may be right though wrt better of with a house.
2770 Vs Logan Central, Woodbridge Kingston on HC properties.
I was playing with the numbers of Housing Commission and compare with mainly Logan Central, Woodbridge, Kingston QLD and 2770 (excluding some posh suburbs like Oxley park and Minchinbury)
Logan Central, Woodbridge Kingston average under 10% HC properties.
2770 (such as Bidwill, Tregear Blackett, Letho, Emerton, Whalan ) average to be 25%. Highest over 30% lowest still around 15%
Buyer Agent can validate my numbers...
10% HC in any suburb/LGA is not a concern at all in my books...
I was playing with the numbers of Housing Commission and compare with mainly Logan Central, Woodbridge, Kingston QLD and 2770 (excluding some posh suburbs like Oxley park and Minchinbury)
Logan Central, Woodbridge Kingston average under 10% HC properties.
2770 (such as Bidwill, Tregear Blackett, Letho, Emerton, Whalan ) average to be 25%. Highest over 30% lowest still around 15%
Buyer Agent can validate my numbers...
10% HC in any suburb/LGA is not a concern at all in my books...
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Where did you find the numbers RR101? ABS?
One way is just to sort the total housing stock by owner in excel, simple enough from the main databases.
Correct, this is exactly what I did per rpdata search of by owner that is HC, divide number of properties in the given suburb.
One thing to note is the abundance of refugee tenants in the region which does not occupy any HC property. I purchased a Logan property recently. When I went through the house inspection, the refugee tenant could not speak a basic english and could only remember the face of the Agent, but had little understanding what was going on and why there so many people going through his house. One thing I could think of is accidental damage especially in the kitchen due to them no accustom to the Australia regulations etc. To this I would add the extra coverage in the building insurance that included tenant accidental coverage to mitigate the risk.