Logan: Getting a bit too hot?

[Corey Batt]

Looking into Logan right now, I'm finding a huge amount of properties are going under contract after being on the market for only a few days. Prices have pushed up from the first half the year.

What's people's thoughts on Logan right now, particularly Logan Central? Think the boat has passed for the short term?

 

[TMNT]

Yeah definitely short tterm boat sailed

Its started moving noticeably about may this year

Long term it will be ok
I'd rather be investing in Logan then west syd though

 

[gbang]

yep definitely sailed...been looking for the last 2 months and just too hot for my liking!

Looking into Logan right now, I'm finding a huge amount of properties are going under contract after being on the market for only a few days. Prices have pushed up from the first half the year.

What's people's thoughts on Logan right now, particularly Logan Central? Think the boat has passed for the short term?

 

[noobinvestor]

What's the attraction of Logan Central vs Kingston vs Woodridge vs North Woodridge?

 

[Coconutwheels]

I've been looking there last couple of months too. Have had a few offers out, negotiated with the agent, signed a contract only to have it returned again with a higher price written in!

I think I have one secured now, I'm paying about $25k more than it could have been bought six months ago. The numbers still work giving an 8% return and neutral cash flow after all expenses and purchasing cost.

Definitely heating up there, and don't the agents know it!

 

[RPI]

In specific markets at the right price point some houses are selling in hours not even days.
I think a lot of buyers (home owners and investors alike) were sitting on their hands over the previous 12 months or so and now with a little bit more positivity around they have all come back.

Think it is too early to call as to whether this is just a little catch up or whether we will see significant price increases. I am hoping for the former but don't have enough data over long enough time to take a position.

Buyer's do not have the same bargaining power they had even 6 months ago though.

D

 

[devank]

The numbers still work giving an 8% return and neutral cash flow after all expenses and purchasing cost.

Doesn't it mean it hasn't hit the ceiling yet?

 

[mikezen]

Not every suburb is hot, closer in is obviously moving faster
A subdividable block in Beenleigh would be my pick ATM

 

[TMNT]

I've been looking there last couple of months too. Have had a few offers out, negotiated with the agent, signed a contract only to have it returned again with a higher price written in!

I think I have one secured now, I'm paying about $25k more than it could have been bought six months ago. The numbers still work giving an 8% return and neutral cash flow after all expenses and purchasing cost.

Definitely heating up there, and don't the agents know it!

Yield On a individual deal does not indicate the market

Your 8% is fantastic but you may have been the best bargainer of the 21st century
Or got extremely lucky
Or spotted a tremendous value add

 

[Corey Batt]

I've been looking there last couple of months too. Have had a few offers out, negotiated with the agent, signed a contract only to have it returned again with a higher price written in!

I think I have one secured now, I'm paying about $25k more than it could have been bought six months ago. The numbers still work giving an 8% return and neutral cash flow after all expenses and purchasing cost.

Definitely heating up there, and don't the agents know it!

What suburb is this?

 

[Coconutwheels]

What suburb is this?

It's in Logan Central. It's renting above market atm I believe, and yes this particular deal is not a reflection of the entire market.

 

[saiman]

bought 2 in the last 2 months in the better parts of logan both purchase price of $230k renting $345 and $330pw respectively

fairly new houses (90's built) on standard 600sqm blocks...minor repairs (under $1000) to each

deals are still out there imo

 

[gbang]

where abouts in Logan Central? Been looking for a while but cant put my finger on one!

bought 2 in the last 2 months in the better parts of logan both purchase price of $230k renting $345 and $330pw respectively

fairly new houses (90's built) on standard 600sqm blocks...minor repairs (under $1000) to each

deals are still out there imo

 

[D.T.]

bought 2 in the last 2 months in the better parts of logan both purchase price of $230k renting $345 and $330pw respectively

fairly new houses (90's built) on standard 600sqm blocks...minor repairs (under $1000) to each

deals are still out there imo

Want!

 

[norwoodman]

4114 reasons to invest in Logan.

For those who are/have invested in postcode 4114, does anyone have a particular favoured pocket or area?

 

[Cherry Pro]

Having invested in the Logan area for a little over 2.5 years now and having visited only thrice over this time, think Logan Central might be nicer than Woodridge but then Woodridge has the advantage of the train station as with low cost housing, renters prefer public transport.

I think 4114 has still a bit to run over 2014 and then investors will move to Ipswich where there a definitely some great deals to be had.

Coconut Wheels, your deal is a definite winner !

 

[devank]

and then investors will move to Ipswich where there a definitely some great deals to be had.

I never had a 'good' feeling about Ipswich. Too many vacant lands. At least Logan is sitting between Brisbane & GC. All suburbs between Beenleigh and Brisbane are reasonably built up.

 

[see_change]

We bought in Logan in the last cycle . Friends bought in Ipswich .

Evveryone did ok .

Cliff

 

[Tyrone J]

Own a company in the heart of Logan. The chance for a bargain is long gone. Properties are over valued imo (Kingston, Logan Central, Woodridge). Long term growth is still there (as is all of Logan). Head out to ipswich (i am) for the bargains before they follow suit.

 

[Coconutwheels]

Coconut Wheels, your deal is a definite winner !

It turns out not so much a winner.....pest and building revealed its been full of termites!

Back to the drawing board.