Hundreds of acres of farmland along the Logan River have been divvied up into more than 400 blocks between two multimillion-dollar residential developments.
This September, a $67 million Rosebank development will become the second estate to bring more than 200 new housing lots to land along Logan Reserve Road and Glen Rd.
Rosebank will bring 272 lots with prices starting at $229,900, while the neighbouring Sequana estate has 10 of 247 lots remaining on its masterplan.
Real Estate Institute of Queensland (REIQ) CEO Antonia Mercorella said the development’s proximity to infrastructure makes it an appealing prospect.
“Access to services is always important and Rosebank has proximity to education facilities, childcare, shops and public transport,” she said.
“The fact the estate has dedicated parkland and recreational facilities will also help add to a sense of community.”
The area’s affordability is also something to look out for, Antonia explained.
“With rising home prices a concern for many, Rosebank is ideally situated in one of the more affordable areas of Greater Brisbane in the growth corridor halfway between the capital and the Gold Coast,” she said.
First home buyers could especially benefit from buying land in the area, with data revealing it is cheaper to buy than rent.
“Recent data release by CoreLogic revealed that it was cheaper to service a mortgage on 81.8 per cent of residential properties in the Logan/Beaudesert area than it was to rent them,” she said.
“People currently renting should do their sums and work out whether they might be better off buying and building in this area.”
First home buyers will also be eligible for the state’s first homeowners’ grant.
