An estate that was once the location of a leading thoroughbred stud farm is a now rising star in the region.
Over the next 20 years, around 50,000 new houses are expected to be built in the suburb of Glenlogan, with the population reaching 120,000.
But in the 90s, now sought-after properties such as those in the Glenlogan Lakes Estate were used as a thoroughbred farm.
According to sales agent Michelle Handbury from Q State Properties, part of the farm was sold as 8ha blocks after the parcel was purchased in the 90s.
Then these blocks were divided into smaller properties between 4000-8000sqm, such as 80-86 Saint Jude Circuit.
The asking price on this block at the moment is over $1.299 million.
“It’s a beautiful, very sizable home built back when the estate first opened,” Ms Handbury said.
“That area had a minimum build size of around 300 square metres at the time, so all the homes in there had to be very sizable, had to have front fencing – it was quite a strict covenant back in the day.
“It was considered quite prestigious. It was one of the first suburbs that had trickle feed town water in that area, outside Greenbank.”
The estate got its name for the large lake it encompassed.
Ms Handbury said it was around 1000sqm across.
“Glenlogan Lakes was part of a very large thoroughbred stud and one of Queensland’s leading thoroughbred studs at the time, prior to it being purchased,” she said.
“[Now] it is very much an area of family friendly retirees, young retirees and family friendly professionals.
“There are a couple of small businesses in there, but it’s mainly mum and dads.”
The Saint Jude Circuit block has one of the biggest pools Ms Handbury has ever seen, and half as many neighbours as the typical property.
She said demand from properties in Glenlogan was growing exponentially.
“The demographic changed. Initially it was people from the city wanting that little bit of lifestyle, then… to people now who are also local wanting to move to acreage.”
She said there remained strong interest from interstate buyers.
These factors have led to a “substantial” increase in prices
“At least $100,000 a year roughly in that locality… over the past six or seven years,” Ms Handbury said.
“It’s very sought after. With all of the private schools that have gone in there since the development, lots and lots of smaller housing estates that are in there, people still want that.”
According to Pricefinder, the cost of housing in the Glenlogan Lakes Estate has risen by an average $157,550 per year over the last 10 years.
Ms Handbury said the Glenlogan and Jimboomba region benefited greatly by its proximity to the Scenic Rim, which was named by global travel authority Lonely Planet as one of the best destinations to visit in 2022.
“Hence, that has drawn a huge population to the Scenic Rim and its outskirts, which includes the likes of Jimboomba, Cedar Vale, Cedar Grove, etc.”
