Madison Park Estate at Park Ridge has been a top seller throughout 2019 and 2020.

Another 15 years of strong growth for Logan!

Study confirms Logan is booming

The City of Logan has enjoyed unprecedented population and housing growth over the past decade, a new study has found.

And there are strong indicators that the trend will continue for at least another 15 years.

The Logan Housing Study, released today, is the first step in a three-stage Housing Strategy by Logan City Council to ensure that future housing and residential development is suitable, accessible and within serviced locations.

It provides research on which Council can base considerations for higher density development around transport corridors while at the same time preserving and protecting Logan’s semi-rural and large suburban blocks for those who prefer that lifestyle.

The Strategy will also guide the type, design and quality of housing for Logan’s population, which is one of the most diverse in Australia with 217 different ethnicities speaking more than 50 languages.

The Housing Study found that affordable choices for housing and high availability have made Logan a magnet for families.

Many new residents have come from other parts of Queensland and New Zealand.

In the last decade there have been more than 26,000 new residential dwellings approved in Logan. From 2015-2019, approvals were in excess of 3000 annually and just shy of 4000 in 2017/18.

From 2010/11 to 2018/19 (last full year of data available) annual residential dwelling approvals in Logan have soared 77 per cent.

Logan has the potential to grow by an additional 56,000 dwellings by 2036 with more than $18 billion in Council and government-funded infrastructure projects planned for the city.

At June last year, the City of Logan was home to 334,358 residents and had seen an average annual population growth rate of 1.9 per cent. By 2041, as many as 586,000 people are expected to live in the city.

Some key snapshots from the Survey shows a typical Logan family:

  • Lives in a detached (stand-alone) dwelling with at least three bedrooms and a double garage
  • Nearly a quarter of residents (23%) are 14 years or younger
  • A further 12 per cent are 15 to 24 years with 63% still living at home
  • There are two or more vehicles at 60% of all dwellings
  • The median weekly rent for a three-bedroom house is $350

City of Logan Mayor Darren Power said the results of the Logan Housing Study were both exceptional and exciting.

“The growth across the city has been astounding,” Cr Power said.

“Families are flocking to our booming new residential developments, our established suburbs are being re-energised and we have also seen growth in the traditional Logan rural-residential lifestyle.

“It is undeniable that people love living in Logan and Council wants to make sure that experience is affordable and enjoyable as possible.

“The contents of this study will now help shape our Housing Strategy to establish best-practice policy options for future housing and residential development across the city.

The study shows Logan’s growth has been led by factors including:

  • Continuing residential development in established residential areas (in-fill);
  • Strong residential development in emerging growth areas; and
  • Priority Development Areas (PDAs) established by the State Government at Yarrabilba and Flagstone.

City Planning, Economic Development and Environment Chair, Deputy Mayor Jon Raven said the growth within the PDAs was just part of the Logan success story.

“Initiatives by Council have seen growth and investment in suburbs such as Park Ridge, Bahrs Scrub, Logan Reserve and Holmview that rivals what is happening out at Yarrabilba and Flagstone,” Cr Raven said.

“In addition to providing affordable housing, our commercial areas such as Berrinba and Crestmead are attracting some major manufacturing companies which has delivered thousands of new jobs to Logan.

“Logan has always been a great place to live and work and now this study proves it.”

Stage 2 of the Housing Strategy will involve detailed investigations on Planning issues including:

  • New residential growth fronts and managing development in established areas
  • Delivering infrastructure in an affordable and timely way
  • Examining diversity of lot sizes and dwelling types
  • Exploring ways to ensure residential development are close to jobs
  • Strategies for an ageing population

“This study identified opportunities for Council to explore and implement diverse, innovative, and affordable housing solutions for Logan’s residents,” Cr Raven said.

“The evidence provided by this Housing Study will allow us to set a strategic vision for the city that meets the expectations of the community as we shape our new Planning Scheme in 2025.”

The van Sleeuwan family are among those living the Logan dream.

Jason and Jasmine van Sleeuwan love living in Logan’s Yarrabilba because they say it is a mix of both suburbia and rural living.

“It’s got all the facilities we need, but we can also stand in our front yard and admire the mountain and bushland views,” Jason said.

Jason, who works in the security industry, grew up in Mackay while Jasmine, who is in retail, is from the Gold Coast. They have a six-year-old son, Tyson.

They previously lived in the Logan suburb of Tanah Merah, which flanks the busy M1.

They are currently renting in Yarrabilba while awaiting the construction of their new four-bedroom, two-garage house on a 448 square metre block which flanks natural bushland not far away from where they now live.

“We like it out here because it is just that bit further away from the hustle and bustle of other places,” Jasmine said.

“There air is so clean, there’s no smog and there are heaps of other families and kids in our area for us and Tyson to make new friends.”

The study can be viewed here.

 

‘No land left’: HomeBuilder sparks feeding frenzy

A recent Courier Mail article has highlighted the current land supply shortfalls experienced in South East Queensland.

“Hopeful Queensland buyers have taken to camping outside sales offices the night before land is released with shortages from the HomeBuilder frenzy.”

If you’re looking for quality, competitively priced and ready to build on land, please contact us for our latest release (as shown below).

The Madison Park entry is a breath of fresh air for Park Ridge.

Hopeful buyers have taken to camping outside sales offices the night before land is released given the shortage of land sparked from the HomeBuilder frenzy.

While the grant – a $25,000 scheme for homebuyers – has kick-started the economy as it was intended to do, there is next to no available land left.

Real estate agents have reported entire land releases to have sold in just days.

Some local builders have cashed in with an abundance of work lined up, they say, others haven’t been so lucky.

EXPLORE AVAILABLE LOTS FOR SALE HERE

Capital City Prices Faring Better

If there’s further proof that prices are not likely to fall drastically, it would be the latest monthly update from CoreLogic, which showed that the declines are actually slowing down.

Dwelling values across capital cities are starting to fare better, with the rate of decline slowing down except in Melbourne. On a national level, dwelling prices declined by only 0.4% in August, down from the 0.6% drop recorded in the previous month.

While housing values continued to trend lower from their pre-COVID highs, the rate of decline has already moderated from a macro perspective, said Tim Lawless, head of research at CoreLogic.

Across capital cities, dwelling prices declined by 0.5% on average. This drop was driven by the sustained 1.2% decrease in Melbourne prices.

“Following a similar decline in July, Melbourne home values fell by 1.2% in August, the largest fall recorded amongst the capital cities, demonstrating the impact of a worse viral outbreak relative to other cities, along with a larger demand-side impact from stalled overseas migration. Through the COVID period to date, Melbourne home values have fallen by 4.6%,” Lawless said.

Lawless said the performance of housing markets are “intrinsically linked” with the extent of social distancing policies and border closures.

“It’s not surprising to see Melbourne as the weakest housing market considering the extent of the virus outbreak, and subsequent restrictions, which have weakened the economic performance of Victoria,” he said.

Other capital cities performed better, with the declines in Sydney and Brisbane moderating to 0.5% and 0.1%, respectively. Darwin posted the highest gains in prices at 1%, followed by Canberra at 0.5% and Hobart at 0.1%. Adelaide and Perth maintained their dwelling values in the month.

Regional markets were able to maintain their median dwelling values. However, it is crucial to note that the regional markets’ pre-COVID-19 momentum has already slowed down. In fact, prices in these markets have been flat since May.

Lawless said regional markets’ limited exposure to net overseas migration has helped them maintain their standing amid the pandemic.

“Regional markets may also be appealing for their relatively low density and lower price points. The normalisation of remote work through the pandemic could make proximity to major cities less of a factor in home purchasing decisions,” Lawless said.

Check out the table below to see the price performance of capital city markets in August:

Source: Your Investment Property

Big ideas for kick-starting the property sector

The Queensland property industry will lobby the Palaszczuk Government for a $600 million infrastructure injection to help lay the groundwork for the sector’s rebuild.

Property Council chief executive Chris Mountford said new residential developments often stalled for years as local council, the State and developers argued over who should pay for infrastructure such as roads, water supply and drainage.

MORE: Latest land for sale

The Property Council, Housing Industry Association (HIA) and the Urban Development Institute Australia (UDIA) have joined forces to lobby the government for the establishment of a new $500 million fund to supercharge catalyst infrastructure investment, with a further $100 million to be injected into the state’s existing program.

In a post COVID-19 world, industry experts say it will play a critical role in revitalising the state’s regional economies.

UDIA Queensland chief executive Kirsty Chessher-Brown said it made sense for the government to align the funding with projects that would enable development in high-growth and priority development areas identified in existing regional plans.

In Townsville, Lendlease and the Queensland Government have invested $31.5 million into the delivery of the Elliot Springs development project over the past three years, with the state offering $15 million in interest-free loans. This allowed for upgrades to the Bruce Highway, installation of a sewer line, with associated pump stations at Cleveland Bay. So far the project has created 365 full-time jobs.

Mike Roberts, the executive director of the HIA Queensland, said that the existing catalyst infrastructure program had proven to be incredibly powerful in stimulating regional economies.

“It makes sense to strengthen and leverage from these existing initiatives to expedite our recovery.”

Mr Roberts also identified the abolition of stamp duty as a priority, a solution the Real Estate Institute of Queensland (REIQ) has also campaigned for and now says is imperative.

REIQ chief executive Antonia Mercorella said the institute was lobbying the government hard for reform of the property tax.

“We think stamp-duty, at a minimum level, should be lifted during COVID-19, but there is a desperate need to reassess it on a permanent basis,” Ms Mercorella said.

“Stamp duty not only adds a significant amount to the upfront cost of buying a home but it has an additional financial cost in terms of mortgage repayments,” she said.

Reforming the tax would boost consumer confidence, she said, offsetting any predicted long-term effects of COVID-19 and helping to maintain economic stability across the state.

INDUSTRY DEMANDS AT A GLANCE

• Allocate $500 million to new catalyst infrastructure

• Boost existing catalyst infrastructure by $100 million

• Abolish or reform stamp duty

Source: realestate.com.au

 

 

 

Dr Bevan Geissmann, a co-founder of Halcyon villages, on why he loves living in Logan

Dr Bevan Geissmann, the co-founder of Halcyon villages for over 50-year-olds, loves his acreage property in the suburb of Logan.

1. Where do you live and why?

I moved to Logan when I joined a medical practice in Beenleigh 34 years ago. Having grown up on the southside of Brisbane in Holland Park, at that time Logan reminded me of there and it felt like home. Logan is the real Australia. It has state schools, rugby league and down-to-earth people. It has a diverse cross-section of society, including hardworking families, and they were who I wanted to serve. In fact, a lot of old schoolfriends became my patients.

2. What do you love about your home?

We’ve been lucky to live on an acreage in Carbrook for the past 32 years in the same house, which is where we raised our three children and where there are still holes in the wall from their misadventures, and pencil marks on the door frames where we measure their growth.

3. What would you change about your home?

I wouldn’t change a thing as I love the open space and the sense of rural living we have, even though we are minutes from the M1 and all the shops and services we need. Although there are times when I think I’d like to give up my ride-on mower and having to mow the grass!

4. What is the best thing about your suburb?

We’re incredibly lucky to have so much green, open space, and the feeling that we live in the country, when we are so close to the city, mountains and the coast. We have more than 900 parks here. Logan is central to so many places including Brisbane, Mount Tamborine and the beaches of the Gold Coast. We’ve got great infrastructure and a network of highways intersecting through the region, a great hospital, lots of industry and what I call a lot of grunt. It’s a city on the move.

5. If money was no option, what would be your fantasy home and where?

As an old man who thinks he can snowboard, I’d be happy to take the chalet in the Swiss Alps for the winter. My summer residence would be in Jupiter Island, Florida, where my neighbours would be Greg Norman, Arnold Palmer, Lee Trevino, Serena Williams and Celine Dion. It’s a narrow 9km island connected by a bridge to Miami, which has amazing golf courses, tennis and pickleball courts. For now, I’m happy to indulge my passion for these sports at Halcyon Greens in Pimpama, which is built alongside a golf course and has Australia’s largest pickleball facility.

6. What has been the best piece of property advice you’ve received? Or biggest lesson learned?

Buy your home with your heart, then head and wallet. Buy property in the reverse order. Source: realestate.com.au