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

Coronavirus: Can I still sell my house? FAQs on how COVID-19 affects the housing market

The COVID-19 pandemic has impacted upon almost every industry including real estate.

State and federal governments have introduced necessary restrictions to stop the spread of the virus. But the property market continues to operate, with the safety and health of all persons involved the paramount concern.

Below, realestate.com.au answer your Frequently Asked Questions (FAQ) on what the coronavirus crisis means for sellers, buyers, renters and landlords.

Can I still sell my home?

Yes. Sellers’ agents, buyers agents and the rest of the market have adapted to the new restrictions. Virtual tours of homes, private inspections and online auctions are now the norm. Sellers can still sell via private sale too, as always.

What does the ban on ‘on-site’ auctions or ‘in-room auctions’ mean?

Auctions will continue to be held online. Prospective buyers can continue to register and bid online. Only ‘in-person’ auctions have been suspended due to social distancing rules.

Can I still inspect a home I am interested in?

Yes. Realestate.com.au has launched a new virtual inspection tool which will allow buyers and sellers to remain in business. Buyers can inspect a home virtually and then if they wish to visit a property in person, they can arrange a private visit through the selling agent.

How do virtual or digital inspections work?

Digital inspections allow real estate agents to use videos – either shot professionally or via smart phone walk-throughs – which would be available to renters and buyers via ‘Inspections’ sections of Buy and Rent listings on realestate.com.au.

Will showing my house increase my family’s chances of contracting coronavirus?

The government says as long as all recommended measures, such as social distancing and hygiene, are observed it is safe to proceed with private open home inspections. See more of the original realestate.com.au article here.

Home values set to weather coronavirus pandemic

Housing prices stayed in positive territory despite coronavirus hitting large swathes of the economy in March.

The CoreLogic Hedonic Index saw housing values climb in the first half of March but as social distancing measures kicked in through the final two weeks, that growth began to weaken.

This as the Commonwealth Bank, one of the nation’s Big Four, expected home values to weather the crisis better than most other indicators.

LATEST LISTINGS: Park Ridge, 227 WICKER ROAD, Land For Sale: $234,000

 

 

“Bank policies to allow mortgage holders to defer mortgage payments during the crisis is expected to reduce the number of distressed sales on the market, this will help buffer falls in property prices,” the Commonwealth Bank report said. “Lower sales volumes and buying volumes could see the property market effectively enter hibernation with limited impact on property prices.”

CoreLogic found the national median dwelling value rose 0.7 per cent in March to $554,229, with Brisbane rising 0.6 per cent to $506,553. Sydney was up 1.1 per cent in the month to $882,849, while Melbourne hung in there with a 0.4 per cent to $695,299

CoreLogic research head Tim Lawless said Australia’s housing markets had entered “a period of disruption” but did so off “a strong foundation”.

“The housing market won’t be immune to a drop in sentiment and weaker economy, however the extent of the impact on dwelling values remains highly uncertain,” Mr Lawless said. “Capital growth trends will be contingent on how long it takes to contain the virus, and whether additional constraints on business or personal activity are introduced.”

He agreed that home values could weather the downturn better than other indicators because the number of home sales was expected to drop, and due to lending measures and government stimulus helping homeowners.

“Considering the temporary nature of this crisis, along with unprecedented levels of government stimulus, leniency from lenders for distressed borrowers and record low interest rates, housing values are likely to more be insulated than sales activity,” he said.

“The extent of any fall in housing values is impossible to fathom without first understanding the length of time this health and economic crisis persists. Arguably, the longer it takes to contain the virus and bring economic operations back to normal, the higher the downside risk to housing values.”

Commonwealth Bank expected to review its property price forecasts “in due course”.

“We believe that mortgage rates, consumer sentiment, new lending and auction clearance rates are the best indicators of the direction of dwelling prices. But with volumes now so thin previous relationships may not hold, particularly the relationship between new lending and prices. Based on the current movement of all but mortgage rates there does suggest there is downside risk to dwelling prices forthcoming.” Source: realestate.com.au

7 things every renter wants to see at an open house

There are so many gross, creepy and wrong things that can go down at open inspections for rentals.

Just because we’re renting, doesn’t mean we don’t deserve a home with modern inclusions, right? If you’re looking for a new rental, it pays to not only be organised with the application process – but also know what you’re not willing to compromise on.

We’ve seen some big blunders at open homes for rent. To avoid committing the same crimes, here are seven tips for what potential renters actually want to see.

1. A shower head that’s not from the 1950s

Why landlords insist on installing ancient shower heads in bathrooms is beyond me.

Renters do appreciate one that sprays more than a few measly squirts of water a minute.

They aren’t even that pricey to purchase and fit, so get it together on the shower front, Brenda. I’ll take mine in a matte-black finish, thanks.

2. Carpet that’s not from a horror film

Crunchy carpet is not an interior trend, nor is the notion that because a home will be tenanted, you don’t have to care about comfort or quality.

Give potential tenants some respect by installing fresh carpet, and they’ll give you respect back by looking after it.

Nobody wants to see stained carpet at an open house. This isn’t CSI.

3. A built-in wardrobe with mirrored doors

Storage is just as important to renters as it is home owners. Actually, because renters can’t install shelves on walls I’d argue that storage is even more vital.

Renters will never leave if you go for beautiful mirrored built-ins.

With that in mind, give them built-in wardrobes in bedrooms, and make sure they’re mirrored while you’re at it.

Just because you’re renting doesn’t mean you don’t like to look at yourself. Am I right?

4. A dishwasher – any sort of dishwasher!

I don’t care if his name’s Dishpig Dan and he comes with the apartment – if he’ll wash my dishes, he’s in like Flynn.

In all seriousness, though, renters want all the mod cons that home owners do, and a dishwasher is a convenience most need and expect.

The brand really isn’t important, just make sure it works.

5. Any lighting that’s not oyster

Another thing landlords love to do is install horrible 7-Eleven lighting in rental homes.

Oyster lights are the main offenders here and the inventor of them has some serious explaining to do.

There’s so much more to lighting than oyster lights. Consider pendants, LED and zoned lighting schemes.

Ban all cold lights in a rental property and opt for something warm and inviting. If you build it, quality tenants will come.

6. Window treatments that aren’t verticals

Hands up who’s been to an open house and seen verticals with a few blinds missing and those creepy cords ripped to shreds like Cujo’s run wild? Yep, me too!

Soft curtains are so much more serene than the eyesore that is vertical blinds.

Verticals are the devil’s work and must be stopped at once.

No tenant deserves this sort of window ‘fashion’ thrust upon them.

7. Mould-free walls (it’s not that hard)

If you see a few spots in the corners of rooms at an open house, run for the hills. If those spots look a little green in places, leave the tri-state area and never return.

Seriously, moving into a rental home with mould issues is a horrendous event you do not want to attend.

Don’t underestimate the impact of bright, mould-free walls.

Landlords, please sort out damp issues, repaint with mould-resistant paint, and make sure the property is well ventilated.

Source: https://www.realestate.com.au/lifestyle/