That's an interesting comment re: yield and growth, because Springwood looks like it's historically relatively high yield and significantly lower growth?
Interesting price, $388,888 - maybe angling for some superstitious Chinese buyers?
Don't know enough to comment on the home specifically but the above piqued my interest.
Coincidentally Springwood is also 18.8km away from Brisbane CBD From my little research of the Logan area it seems that Springwood prices have been less volatile compared to say Woodridge from 2010 to 2014, recording gains every year apart from 2011 where prices fell by a couple of a percent. Woodridge prices fell in 2010, 2011 and 2012, then picked up slowly in 2013 and a lot this year. I think part of the reason Springwood has had stability is because there are more owner occupiers than investors. Its also the Principle Activity Centre of Logan receiving a lot of developments and its a suburb wedged between Rochedale South and Daisy Hill which are both nice suburbs on the eastern side of the Pacific Highway. Good schools and colleges are also located in Rochedale South, Springwood and Daisy Hill, with this property in question only 200m away from a reputable college, and close to transport, major roads and shopping. So i believe the fundamentals are all there to make these suburbs attractive to both investors and owner occupiers, and we all know that's a good thing for growth. ). Comparative sales also show that its around market value but majority of 3-1-2 properties are selling for more. Imo good value, very well located close to good schools, public transport, freeway, major shopping (Ikea, Logan Hyperdome), BMW dealership plus it has so much value add potential, and decent block of land 755m2 (20m frontage). Only con is it is located on a dual carriageway. It is R600 so not subdividable but granny flats might be ok depending on future Logan Planning Scheme.nothing really to add - except I have one around the corner in Rochedale South currently under contract too. Settling next Wednesday
Its just that i have been looking in that area too, would be good to to see what other investors have bought too. I have only just got B&P done, and val results. I see that you are a valuer yourself? Whats your thoughts about the south east brisbane area?Congrats! Mind showing it off to me?
Dbz if your interested to know how much the vendors paid for it I can tell ya
Yup, and i heard it sold for under $380k