Six Logan suburbs are among the top 10 in-demand suburbs for home buyers in Queensland, according to realestate.com’s PropTrack data released last week.
Loganholme ranked second in the state, behind Rocklea, for home buyer demand. PropTrack’s data estimated that every house for sale in Loganholme receives 133 enquiries while on the market.
Local agent and director of McGrath Springwood, Teza Fruzande, said these figures matched the buyer turnout he has seen at open homes he has hosted over the past six months.
“An average property in Logan would get anywhere from 80 to over 100 enquiries,” Mr Fruzande said.
“What we’re experiencing at the moment is a lack of stock availability,” he said.
“There aren’t many properties for sale, and there are heaps of buyers looking for properties, so we’re experiencing a higher turnout for open homes and general inquiries.”
Hillcrest, Logan Central, Waterford West, Forestdale, and Marsden also featured in the state’s top 10 in-demand suburbs for home buyers.
Mr Fruzande said Logan suburbs like Loganholme were in demand because not only do they offer relatively affordable housing prices, but they are also in a desirable location close to urban infrastructure.
“I’ve had a lot of buyers say to me that they do find the Logan area to be reasonably priced compared to the kind of growth seen in regional areas like Townsville,” he said.
“You’ve got an area like Marsden being 25 to 30 minutes away from Brisbane city, where prices are $850,000 to $900,000, and I think buyers are seeing that there is a lot of potential and opportunity here.”
“This area has pretty much got everything,” he said.
Property prices for houses in Woodridge, Kingston, and Logan Central scored in the top 10 suburbs in Queensland for price growth.
House prices in Woodridge increased by 33%, bringing the median house price to $837,000. Kingston and Logan Central both saw an increase of 30%, bringing median house prices in the suburbs to $854,000 and $839,000.
The suburbs of Rochedale South and Logan Central were included in the top 10 in-demand suburbs for unit buyers.
Unit markets in Hillcrest and Woodridge had the highest price growth rates in the state over the last 12 months.
Units in Hillcrest have increased by 35%, with median unit sales sitting at $724,000, and Woodridge units have increased by 32%, with median prices currently at $548,000.
Mr Fruzande said competition in the unit and townhouse market had increased in the past year, as many first-home buyers are priced out of the free-standing house market.
“At the moment, we get an average of around 20 to 30 groups of people attending open homes for townhouses, and most of them are first-home buyers,” he said.
Image: Teza Fruzante from McGrath Springwood is accepting offers over $890,000 for
6 Phillip Street, Woodridge. Realestate.com.
