logan city - feedback

Beanie Girl said:
Buying opportunities 250k and below still abound in Logan 4114 and surrounds. New decently priced listings coming out everyday....

249k - brand new listing today. Peaceful location. Good land 607m
http://www.realestate.com.au/property-house-qld-woodridge-116798095?rsf=emailalert-propdetails

229k - 3 beds up, 1 bed down, 2 bathrooms, 1 up, 1 down. Good land 660m
http://www.realestate.com.au/property-house-qld-kingston-116751635
Click to expand...

The latter one already has 8 offers on it.
 
But the first listing hasn't got any offers on it. ;)
6 views when I listed it above.

31 Myra St at 229k was listed on Easter Sunday. At that price, bound to get offers sight unseen.
 
Beanie Girl said:
But the first listing hasn't got any offers on it. ;)
6 views when I listed it above.

31 Myra St at 229k was listed on Easter Sunday. At that price, bound to get offers sight unseen.
Click to expand...

Even the ones getting listed at $249k are getting multiple offers sight unseen, so wouldn't be surprised if the first one is already getting offers as well.
 
Below are properties that are 255k, 229k and 234k in Logan.
Solid brick homes on good land content.
Each has offers on them but the agents are still willing to take offers on them as the owners won't make up their minds till Monday or Tuesday.

So don't be deterred by offers on property, put your best offer forward and put in your strongest offer possible (e.g. not subject to finance etc)


255k - 711m of land
http://www.realestate.com.au/property-house-qld-logan+central-116650799

229k - 618m land
http://www.realestate.com.au/property-house-qld-kingston-116650859

234k - 731m of land
http://www.realestate.com.au/property-house-qld-kingston-116650143
 
$229K FOR 600sqm+ in liveable condition in any of 4114 will simply be fishing for higher offers,
if you want to pick them up at reasonable prices $230-$240k in todays market, you will have to simply put in a cash offer before the first open,

and if the agent has been instructed to wait a few days for the offers to come in, then it wont work

Personally, the horse has truly bolted, if people are offering unseen and multiple offers, its time to move on
 
strongy1986 said:
Logan won't replicate mt druitt

How can it?

You can buy in a good suburb in Brisbane for less than a crap suburb in Sydney.

Two different cities , Brisbane has about a quarter of population of Sydney and plenty of developable land. Sydney is landlocked and has none that is why druitt boomed it was because there are no other options in the city limits. Brisbane like melbourne has heaps of options and will for years to come

The yields are good though
Click to expand...

Sydney still has land and alot of it. There are alot of rural land in south west and north west corridor, that Government can expand out to. Yes it will expand out to the 50km, but it's still within Sydney.

In recent years, Government announced the North West and South West under urban growth. We saw thousands of hectare of rural land got turned into residential blocks. Beyond these urban released and rezoned precincts, there are still thousands hectare of acreage that can be developed once urban planning gets there...

Few years ago, I dropped a radius pin in the Sydney map. Within the 40-50km, 2770 was cheapest at that time for a fibro house on a reasonable block. However I couldn't find a reason to convince myself at that time there was a capital growth. For this same reason I dropped a pin in Brisbane, and 4114 is the cheapest and it has yields to back it up which is a bonus, but most importantly I comparing with Sydney's 40km vs Brisbane's 20km.
 
Beanie Girl said:
31 Myra St at 229k was listed on Easter Sunday. At that price, bound to get offers sight unseen.
Click to expand...

current owner paid $210k 6 years ago and is in VIC. Rental grew from $250/wk to now $335/wk. ROI 7.6% on listing price. Agent is 1-2 suburbs away. I think buyer are attracted to the low entry price and average higher rental. I think there are more than 5 people living in that property.
 
Beanie Girl said:
Below are properties that are 255k, 229k and 234k in Logan.
Solid brick homes on good land content.
Each has offers on them but the agents are still willing to take offers on them as the owners won't make up their minds till Monday or Tuesday.

So don't be deterred by offers on property, put your best offer forward and put in your strongest offer possible (e.g. not subject to finance etc)


255k - 711m of land
http://www.realestate.com.au/property-house-qld-logan+central-116650799

229k - 618m land
http://www.realestate.com.au/property-house-qld-kingston-116650859

234k - 731m of land
http://www.realestate.com.au/property-house-qld-kingston-116650143
Click to expand...

Thanks to everyone for the comments & suggestions. Sorry i had been away last few days.

One question i want to ask is that if a property is affected due to being part of the new Town centre plan, what does this mean for investors like me? Should i be checking with the council or is it a good opportunity to buy?
 
luv said:
Thanks to everyone for the comments & suggestions. Sorry i had been away last few days.

One question i want to ask is that if a property is affected due to being part of the new Town centre plan, what does this mean for investors like me? Should i be checking with the council or is it a good opportunity to buy?
Click to expand...

Definitely check with Council first, luv. Have a chat to them about the specific property you're interested in and what the town planning changes mean for the property. Then you can decide if it is a good opportunity to buy or not.
 
I Live in the Logan area in Browns Plains and have two investment properties in different suburbs ( Meadowbrook and Beenleigh), and know these area's pretty well. The area is very diverse as other people have mentioned with some really nice suburbs as well as some rather troubled ones that I would avoid.


The logan city council website is very good in terms of zoning information and flood mapping. If you are looking at a specific suburb the first thing I would do is check the flood mapping and zoning information to see what streets to avoid.

Also the draft plans for Logan were released in the last couple of months detailing proposed changes to zoning. There could be some potential development opportunities there if your that way inclined.


I particularly like Loganlea/Meadowbrook area and would buy another IP in this area if I had the reserves left.

Reasons are:

- Logan hospital is being upgraded
- Griffith Uni Logan Campus nearby
- New supermarket being built.
- Logan Tafe
- Rail links to CBD/ gold cost + the express stops at loganlea station.
- Access to logan motorway and pacific motorway plus recently built bus transit depo.
- Nice big parklands behind meadowbrook with good facilities

Downsides are loganlea is subject to flooding all through the suburb and its not obvious where the water ends up. Vital to check flood maps if you buy on the loganlea side of the railway ( meadowbrook is on the other side and is safer floodwise but more expensive by far)

There is also a new development being built in loganlea along the river bank in an area that used to be farmland. This was zoned as floodland so I presume they are going to raise the land all the way along the river bank. This might have an effect on existing stock once a glut of new property hits the market.
 
The only one that people on the forum have recommended is Andrew Allen , but h appears to be flat out and ? Not taking on new clients .

Cliff
 
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