Which Brisbane Suburbs?

[Beanie Girl]

Do you suggest units or houses? House may be better for future development but what does the rental market there prefer? And are any parts of Woodride better or worse than others? Thanks!

Rental market there prefers houses, the bigger and more decently renovated the better rent you get.
Highsets where dual living is possible for big, related families and friends
Entertaining areas like a patio, pergola or deck where they can have their barbies and hang out on hot days
Yes, there are parts of Woodridge that are better than others
There are pockets where it is mostly owner occupied, there are pockets of really nice gated townhouses and places nearer the train station like Blackwood Rd and Defiance Rd that have a lot of units and doesn't feel so safe. Still everything is changing with the emphasis on improving the area and investor investments.

You also have to see how the property is situated, is it at a bottom of the hill? Is it on a sloping block because the steeper the slope, the harder it is to build say a granny flat. Slope from front to back, back to front, right to left, left to right may also have minor/major water flood issues for the house. Logan can rain like crazy for weeks on end then be bone-dry for long periods.
Have to check if any subsidence of earth under the house that affects it.

The Holy grail is level block, not prone to flood (e.g. not backing onto a creek)
Most of Logan 4114 is not flood prone, there are just some small creeks or overflow paths you just have to watch out how close the house is it or is the house on a higher part of the land than where the creek line is

Hope this is of some help
I haven't talked much about Logan so much except sporadically because nearly every week, somebody was contacting me saying they are looking and I don't want to spoil their chances
Sometimes, people pm me saying that based on what I have said on the past, they have put a contract on a property in such and such a suburb. Sometimes, it's already gone unconditional

I hope what I said in the past was correct 'cos these are the few that contact me that tell me they bought. I sometimes wonder about the quiet ones who bought quietly. They've either made a bloody good decision or an awful mistake! HAHAHAHA! Disclaimer: I can't afford to offer you refunds. Buy with due diligence.

 

[Francesco]

Great suburb. Close to CBD and all facilities. Very expensive but you'll do well if you are a buy and never sell investor.

Thanks for the comments. This is in my short list of suburbs to look in for my PPOR.

 

[see_change]

I picked up on Logan in early 2000's when several people I knew sold in Mt Druitt and moved to Brisbane .

They went to Logan , Caboulture and Ipswich .

Cliff

 

[roceans11]

Great suburb. Close to CBD and all facilities. Very expensive but you'll do well if you are a buy and never sell investor.

Any particular reason for the high vacany rate since Jan 2013 in Wooloowin?

 

[michellegfranci]

Ideally I would like a gross yield of around 5%(unit) and 4.5%(house) in a decent suburb within approx 15km of the city.

Thanks,

I can get you a unit with 6.21% yield, 8km from CBD and tenanted.
Under $600k.

 

[Nth Brisbanite]

Any particular reason for the high vacany rate since Jan 2013 in Wooloowin?

3.1% in June is not that bad even if it is a little above Brisbane average. Could be due to number of units in certain parts of the suburb. Houses rent out very quickly in this suburb.

 

[DanS_]

Does anyone have a recommendation for a buying agent in Brisbane or one that they're using? Albion/Windsor/Lutwyche areas more specifically. If someone has some inside trading too on those areas I'd be appreciative

 

[roceans11]

3.1% in June is not that bad even if it is a little above Brisbane average. Could be due to number of units in certain parts of the suburb. Houses rent out very quickly in this suburb.

Has there been a wave of supply in this area in terms of high rises apartments etc? Because if you see the graph for Jan 05 - July 09, it seems like it has a history of vacany rates <2%.

 

[Gendry]

I am following this thread with interest as I am considering investing in Brisbane.

I just read the following article on apartments reaching an oversupply in inner city Brisbane. I found the article via Pete Wargent's blog, which I generally find has good information. What do people think of this?

http://matusikmissive.com.au/2014/08/19/7585/

 

[Feradd]

I am following this thread with interest as I am considering investing in Brisbane.

I just read the following article on apartments reaching an oversupply in inner city Brisbane. I found the article via Pete Wargent's blog, which I generally find has good information. What do people think of this?

http://matusikmissive.com.au/2014/08/19/7585/

Yes that's correct. This is widely known amongst keen property investors. Same as in Melbourne and probably Sydney. It's best to invest a few kms out to avoid the oversupply issue. They don't make good investments anyway even without the oversupply issue because there are too many apartments in each block, and they are generally small. Always better to be in smaller blocks of no more than say 20 so you are not competing against so many other rentals and sales when the OTP buyers all dump their stock on the market at once. Also the smaller complexes gives owners more say on strata matters and is much easier to keep costs under control.

 

[strongy1986]

It's funny how many people from melbourne and Sydney jump on Brisbane threads and just default to talking about buying apartments

Wake up

You can afford a house

 

[Gendry]

Yes that's correct. This is widely known amongst keen property investors. Same as in Melbourne and probably Sydney. It's best to invest a few kms out to avoid the oversupply issue. They don't make good investments anyway even without the oversupply issue because there are too many apartments in each block, and they are generally small. Always better to be in smaller blocks of no more than say 20 so you are not competing against so many other rentals and sales when the OTP buyers all dump their stock on the market at once. Also the smaller complexes gives owners more say on strata matters and is much easier to keep costs under control.

I believe that the article is referring to inner circle suburbs a few kms out, not just the CBD. In the table it has a list of many suburbs

 

[DanS_]

It's funny how many people from melbourne and Sydney jump on Brisbane threads and just default to talking about buying apartments

Wake up

You can afford a house

And from everything I've researched if you'd like a nice rental return some of the nicer renovated houses are getting good rental income.

Or maybe people want two lower quality apartments/units instead of one nicer house?

 

[RetireRich101]

Hi Zomg, Draft Logan Plan made no mention of minimum land size for a granny flat to be built.

Interesting how this unfolds. In NSW, min land size to put a GF is 450m2

I was thinking 700m2 corner and 1000m2 that may be subdivided into 2 lots, and using each lot to build a dual income house. Not sure if this is even possible under the Draft..

 

[Beanie Girl]

Interesting how this unfolds. In NSW, min land size to put a GF is 450m2

I was thinking 700m2 corner and 1000m2 that may be subdivided into 2 lots, and using each lot to build a dual income house. Not sure if this is even possible under the Draft..

I spoke to a Logan planner a few days ago, my understanding is that there is no minimum land size for the block in order to build a granny flat in Logan. The question is does the granny flat need to share a wall with the main dwelling or can it be separate?

In the current planning scheme, (we are not even talking about Draft Logan Planning Scheme 2014 here),
Eligible non-corner lots e.g. R600 can have dual occupancy without subdivision and infrastructure fees, that is, dual occupancy sit on one title.
For dual occupancy, the code is self-assessable, as long as you meet the performance outcomes/criteria stated in the code, it is self-assessable (don't need to apply for a planning permit with Logan Council, you just need to apply for a building permit and have a private certifier)
So for dual occupancy, the criteria seems more lax than for sub-division, imo, from what I am hearing from the Logan planner.
If you want to subdivide a block, there are minimum criteria that has to be met and these criteria are different depending on zoning, type of lot (e.g. non-corner lot, cul-de-sac lot, corner lot)

For instance, as the planning scheme is now in its current form, an R600 block can be subdivided but there must be a certain frontage (frontage is not fixed, depends on if type of block, e.g. cul-de-sac, non-corner lot, corner lot). Sub-division fees are also not fixed, depending on where the block is located.
Side access all the way down to rear lot must be 4m. Rear lot size must be 600 sqm without including land for the side access for rear lot. And I guess there are other criteria to be met.

Remember, all the above criteria I am giving examples of above, will probably change when the Draft Logan Plan becomes confirmed,
The Draft Logan Plan recommended non-corner lots of 1000m and corner lots of 700m be eligible for subdivision. That is a recommendation at this stage. It remains to be seen if this will be the case in the Confirmed Logan Planning Scheme.

The Logan Draft Plan is supposed to be out in late Oct now (pushed from late Sept)
Council needs to decide on a few matters first before confirming the Draft Logan Plan. Cheers.

 

[Beanie Girl]

I undertand a lot of people are looking in Brisbane, so I'll give my 2 cents worth about the cheaper Logan 4114/Slacks Creek and other more expensive Logan suburbs

Personally for me, in Logan 4114 and Slacks Creek, my past purchases, land size is not important
Because everything residential is currently generally zoned R600 ( I think!) and in the past
Meaning you generally needed a block to be 1200m, side access etc, etc in order to be sub-divided
I like my houses to be converted to dual living already, upstairs and downstairs living (or easily convertable)
or side by side houses - side by side houses are very rare
Everything is so expensive to build nowadays and hard to supervise if interstate
and I prefer the hardwood frame houses in Logan that were built in the 70s or 80s
Brick apron downstairs preferably or cladding downstairs, weather board upstairs
Those are the common builds,
but there are also brick single level houses in Logan - 3/1 or 4/1, really solidly built houses
Hardwood frame, sturdy as anything, just watch out for termites in the pest report

The tenants in Logan 4114 are usually a group of related family and/or friends
They take the whole house, I put them on one tenancy,
I let them sort out who takes the upstairs, who takes the downstairs
easier for insurance purposes as well

There is a lot of rental demand in Logan 4114 and Slacks Creek
There are at least 215 different nationalities and ethnic groups in Logan
Many of them have large families and relatives (near and distant)

so I pay attention to the house rather than the land
nicely renovated or just needing a cosmetic reno (paint, polish, spruce it up)
with entertaining areas (decks, patios, pergolas, undercover area)
bit of a yard to kick a footy, hopefully dual living or can easily be converted to dual living
Location, near to facilities (bus-stops, accessible to shops by short drive/walk)or some tenants prefer to be in really quiet residential, park-like areas not near any shops, shopping centre, train station etc
Far from the Madding Crowd (anybody read Thomas Hardy?)
Really depends, each location can have its pluses in a different way

The whole of Logan 4114 (Woodridge, Logan Central, Kingston) and Slacks Creek is really convenient to a lot of facilities really
and there is a lot of tenant demand

The Chinese, Indians and Asians are also mostly in south Brisbane
so these communities will be choosing to live close to their community, rent or buy or invest nearby

Better areas in Logan are suburbs like Rochedale South, Springwood (watch out for Springwood Master Plan for slated high-rises though in parts of Springwood), Shailer Park, Daisy Hill
If you can afford it

 

[DerekEdgar]

Where to buy - Brisbane direct from developer

Im about to start developing in Lutwyche and Kedron, both areas show big potential due to a new northern busway and clem 7 tunnel, hospital and airport and cbd proximity.

Am able to sell any directly to buyer.

 

[D_One]

Lutwyche is a good spot in my humble opinion.

 

[Chilli]

Im about to start developing in Lutwyche and Kedron, both areas show big potential due to a new northern busway and clem 7 tunnel, hospital and airport and cbd proximity.

Am able to sell any directly to buyer.

What are you developing Derek ?

 

[Peterw]

For interest, West End to Coorparoo was recently listed as the next Urban Renewal Corridor. I would think the earlier you acquire a property in that zone the better off you may be.