A new benchmark for Waterford blocks under 3000sqm has been set at $1.16 million.
That’s how much soon-to-be local grandparents paid for 22 Woodlands Boulevard – all to be closer to their growing family.
And Velvet Properties’ Joe Cherry says these grandparents aren’t the only ones.
“When people are close to their retirement – anything from 50s or late 50s – we see the trend that they try to come closer to the family.
“And these buyers were in the same boat. They want to spend less time in traffic and more time with their grandkids.”
But it’s not just the older demographic looking to stake their claim in Logan’s larger suburban blocks.
Mr Cherry said even some first-home buyers were able to stretch beyond the $1 million mark.
“There are so many first-home buyers and young couples looking for great properties.
“They are mostly young people who are looking to upgrade from a cookie-cutter property of 350sqm or 400sqm that’s close to Brisbane City, to a bigger block or a bigger family home.
“For $1 million, if you’re on the Gold Coast side or Brisbane side, you get nothing. So they feel they get more value for what they pay in [local] pockets.”
Of the eight offers made on this five-bedroom, three-bathroom, 1024sqm property, Mr Cherry said six were from young couples.
“I’ve seen a spike in the number of people looking in that area in Waterford and surroundings.
“A lot of people are moving from the Gold Coast. I’m still in touch with at least 15 odd people from the Gold Coast who are vigorously looking for a beautiful property in that pocket.
“Normally I would expect people from Brisbane, but interest is mostly from the Gold Coast.”
The Woodlands Boulevard home was built in 2008. Mr Cherry described the block as “one of the best” in its estate, with amazing views helping secure the record price.
“On average, the median price would be about $800,000-$850,000 – that’s a normal price range.
“The reason we were able to break that stereotype price is because of the land size. We really don’t have many properties above that 1000sqm block. And of course the views, the pool, the whole layout was just so beautiful.
“It’s tucked in a nice little pocket where you can feel the greenery. You wouldn’t feel that you are close to a busy road or anything.”
