Thinking about buying an IP (house) in Logan Central. Any body else looking here?
Any thoughts or ideas would be appreciated.
Goal is to buy and hold for the long term.
I like the low entry point and yields.
Flew in from Sydney to spend the weekend, so I thought I would give some feedback as to what I have seen and what agents's are saying for any potential investors who have not been able to fly over.
For those of you who have not been to Logan Central, Kingston I would compare the suburbs in looks to the likes of Lalor Park in Sydney.
According to what agents are saying the market is completely driven by Sydney buyers who in most cases are not even flying over to look at the properties. One agent even mentioned to me that prices in these areas have been stagnant and Will never really improve.
For 250,000 you should easily be able to pick up a house on a 550 m? plus block which would be neutral after taking expenses into account.
From what I could see Kingston has more development happening.
Both areas have lots of housing commission which is evident.
Will I still in invest here? More than likely yes given that my investment will be neutral at least. Given where the Sydney market is at the present time, and taking into consideration that the entry point is low.