A leading property agent says Logan is experiencing the perfect storm for social and economic growth, and is finally breaking the shackles of its past reputation.
And other city leaders are supporting the message, saying Logan is perfectly poised to be a city of choice, not merely an affordable option.
Mayor Darren Power is talking up the city’s economic potential, citing the number of big businesses who are setting up headquarters.
Ray White Marsden principal Avi Khan says people are choosing to move to Logan because of the lifestyle the city has to offer, away from the city, space to move, and statistics which point to future steady growth.
He said people had previously pointed to the city’s “potential”.
Now, they’re considering living here because of its “attractions”.
“What’s been holding Logan back?” he asked. “Sure it has potential. It had that for far too long, but it never fulfilled it.”
Mr Khan, albeit with an openly declared vested interest, says the property market was the missing piece of the puzzle.
He says people needed to “want” to live here, and they needed to be proud enough to tell their friends that they wanted to live here.
“The recent property boom has allowed the region to come roaring back into contention,” he said.
“With the rise in prices across the Brisbane, Gold Coast and the Sunshine Coast region, buyers have had to look elsewhere for homes. Logan has become more desirable as the price point and the central location is very appealing.”
Mr Khan said a high number of buyers were moving from interstate. And investors and developers were looking at the council’s plan for infrastructure and growth and are saying, “Yes, let’s take a look at Logan”.
He said Logan was defying the trend of an “owner-occupier-led property boom.
In other areas, Domain data says 83% of inquiries were coming from Queensland-based buyers. In Logan however, more than half the inquiries were coming from interstate.
This proved that the metrics were pointing towards economic growth for the region. Investors are seeing great rental yields and a promise for growth.
Domain data shows the five hottest suburbs in Logan for buyers are Beenleigh, Marsden, Browns Plains, Park Ridge and Greenbank.
The five hottest suburbs for rentals are Greenbank, Rochedale, Springwood, Daisy Hill and Shailer Park.
Council data shows that the region – Australia’s eighth largest council area – is set for massive population growth over the next 10 years.
Mr Khan says this, coupled with economic growth, will drive property demand in Logan for longer than other areas which aren’t realising the same potential.
