Logan Central
- Thread starter miscg
- Start date
A few people buying there and a few of them have done very wellLogan Central is a good start. Have you thought about the suburbs surrounding it like Woodridge, Slacks Creek, Kingston, Crestmead and Marsden? Some people also like Waterford West and Beenleigh.
Are you looking for houses or units?
Also, there are more expensive suburbs in Logan like Rochedale South, Springwood, Shailer Park, Daisy Hill and Cornubia.
What is your rough budget and the yield you are looking for?
Hi Beanie Girl, thank you for the response.
I haven't really looked in the surrounding burbs, I am from Sydney, Have mainly looked into Logan Central.
Looking more for houses. Preferably below the $300,000 mark.
I have other Ips in Sydney, however I feel that diversifying and given where our market is currently at, it makes more sense to look elsewhere.
Do you think I may have missed the boat in Logan central?
I know the entry point is still low.
thanks again.
Excluding any tax benefits, my aim is neutral to positive.
Logan Investments
Hi Misgc,
As rightly pointed out earlier. This forum has heaps of info on logan.
Just to share personal views. We bought one IP there couple of years back at 170K. The market has moved since then, last month we bought one more in Kingstone @ 245K.
Overall it is still a buyers market your can certainly get decent houses around 275K with rental potential of 300 - 320.
This could be a good buy and hold option. If you have steady work then it is even better as your could get back few bobs from Tax man.
Regards
Hi Misgc,
As rightly pointed out earlier. This forum has heaps of info on logan.
Just to share personal views. We bought one IP there couple of years back at 170K. The market has moved since then, last month we bought one more in Kingstone @ 245K.
Overall it is still a buyers market your can certainly get decent houses around 275K with rental potential of 300 - 320.
This could be a good buy and hold option. If you have steady work then it is even better as your could get back few bobs from Tax man.
Regards
Sounds good. Thank you. Yes interested in the longterm. Have researched forum but a lot of the info seems a little old.
check council rates when working out all your yearly holding costs a few places i looked at in eagleby were around $3200 a year which turned most of the place into negative ones pretty quickly
Some of the information may be old but is still very relevant today. I actually find the older threads more helpful as you can compare things to today and see the changes.
My suggestion is to use the search function and try these suburbs as a starter - Kingston, Woodridge, Logan Central. They will bring up the most threads and discussion topics. After that branch out into Crestmead, Marsden, Waterford, Slacks Creek etc
we do a bunch of finance in the region, and its very very variable
various Buyers groups seem to still be able to grab stuff a little under current market value which suggests the supply side is still ok.
id estimate an organic growth of 15 to 20 % or so on average price over the last 18mths.
typically, many sales, are coming in at levels LOWER than the current owners may have paid in the 2000s .............. various reasons for that of course.
ta
rolf
various Buyers groups seem to still be able to grab stuff a little under current market value which suggests the supply side is still ok.
id estimate an organic growth of 15 to 20 % or so on average price over the last 18mths.
typically, many sales, are coming in at levels LOWER than the current owners may have paid in the 2000s .............. various reasons for that of course.
ta
rolf
concern re Logan area is that it increasingly becomes a investor --buy--low social economic tenants--rent area, owner-occupy declining (which is the main drive of capital growth), bit concerned about it.
The council development plan clearly states it's intention to push land supply to temper prices moving forward also. In saying that it is an area in transition, with large population growth expected.
it is truly well for council to prepare for large population growth, however, Logan has plenty of land to splash.whilst other bayside suburbs like Manly, Wynnum, land supply is very limited (or close to nil), you could still pick up a 3 bedder house for under $400k, with 5% yield. The Bayside suburbs might be a better choice. just an opinion.
You must have missed this thread on Logan Central. Latest post was only a few days ago, re: holding costs and yield in Logan.
http://somersoft.com/forums/showthread.php?t=80605&page=3
This could be misleading..
QLD councils mostly bundled there rates notice, garbage collection, state levy, water/sewerage service and water usage in one bill.
$3200/year for the above servicing sound about right. When you break them into individual charges, it is no different to NSW and possibly other States..
its not just the bayside suburbs; a lot of inner and mid Brisbane has plans for council development and has limited land to do so, which should see an increase in demand, whilst keeping supply limited because there is not much land remaining.
The OP prefers to low entry, preferably under 300k and yield. The bayside you suggested may not meet this requirement, but may achieve slight higher growth due to limited land exposure, closer to the bay, better social economical etc.
Morton Bay such as Kallangur, Petrie may also be under $300k, but a tad less yield if you can to look there. Careful with Petrie seem to be higher Housing Commission props similar to Logan.
on a house @ 225k buy renting for 300p/w which is around a 6.90% yield i worked out it was going cost $20 p/w without factoring in maintenance I'm looking for a good cash-flow place atm do you think you can still find houses around the 7.5% yield in logan
Yes, recent purchase 280, needs a Reno, paint carpet tile
Bathroom, but will then fetch north of 420, good suburb as well, not like woodridge or Kingston etc
Thanks for all the replies. I am checking what's available now, and will hopefully inspect some properties soon. I think long-term (10 + Years) can't really go wrong. Any other tips or pointers are always welcome!