Logan Reserve emerges as new hotspot for interstate buyers in SEQ
The Gold Coast may grab the headlines for interstate migration, but Logan Reserve has emerged as the real hotspot for Queensland’s south-east, with a recent report revealing that interstate buyers account for almost half of properties sold in the suburb.
According to the RPM SEQ Property Research Report, buyers from south of the border represented 42.7 per cent of all properties sold at Logan Reserve in 2022. The Logan suburb was also ranked number one for house-building activity in the state’s south-east.
Logan Reserve joined Yarrabilba, Crestmead and Marsden as one of four Logan City suburbs in the south-east’s top 20 for residential property sales to interstate buyers last year.
In percentage terms, Logan Reserve was followed by Crestmead with 33.9 per cent of sales to interstate buyers, Yarrabilba (31.7 per cent) and Marsden (26.4 per cent) as Logan’s most popular suburbs for interstaters in the list.
This compares with Surfers Paradise, the number one suburb for sales by number in 2022, which recorded just 23.4 per cent of sales to southern buyers.
Among the many developers experiencing the interstate buyer rush is Gold Coast-based Orchard Property Group, which is undertaking Willow Logan Reserve and Pebble Creek South Maclean in Logan City.
“Logan Reserve was fifth highest in terms of interstate purchasers with 186 and in percentage terms this accounted for almost 43 per cent of total settled sales in the suburb for the year,” said CEO of Orchard Property Group, Ted Cronin.
The RPM report on the state of south-east Queensland’s property market also reveals that Logan Reserve-Chambers Flat are south-east Queensland’s engine room of growth for housing construction.
The combined suburbs recorded 790 approvals for houses in 2022, edging out Landsborough in Brisbane’s north which recorded 682 approvals.
Logan held three of the top five positions for housing approvals in 2022, with Boronia Heights-Park Ridge (630 approvals) and Greenbank-North Maclean (540 approvals) taking out fourth and fifth position, also making Logan one of south-east Queensland’s most active regions for homebuilding.
“Interstate migration certainly added fuel to south-east Queensland's property market in 2022 with many buyers from the southern states seeking lifestyle and affordability,” said Mr Cronin.
“Logan has been a huge drawcard for interstate buyers due not only to affordability but due to its strategic location in the Brisbane-Gold Coast growth corridor.
“Apart from the obvious lifestyle appeal of the region, it makes economic sense for these buyers to move to Logan. Rather than having to spend $800,000 alone on a block of land in Melbourne or Sydney, these buyers recognise that they can buy a house-and-land package in Logan for much less.”
House and land packages at Willow Logan Reserve start from about $578,000.
“Pricing at this level for a home so close to the Brisbane CBD is unheard of in Sydney or Melbourne,” said Mr Cronin.
“It gives Logan a key advantage in the property market that we believe can be sustained for decades to come.”
Logan is among the key residential development markets being targeted by Orchard Property Group which currently has active projects across the south-east region, including Logan, Ipswich, Brisbane and Moreton Bay
The company’s confidence in the region is supported by forecasts from Logan City Council, SGS Economists and VLC consultants that 54,145 dwellings will be required for the region by 2066.