Logan’s golden property gateway
The west Logan housing market has been lauded as one of the nation’s best emerging areas for first home buyers.
A recent report by Property Credit has identified Jimboomba, alongside several other suburbs in Logan, as among the top areas in the country for prospective buyers.
The report indicated the number of listings in the broader area – Buccan, Cedar Grove, Cedar Vale, Flagstone, Greenbank, Jimboomba, Logan Village, Mundoolun, New Beith, North Maclean, South Maclean, Stockleigh, Tamborine, Undullah, Veresdale, Veresdale Scrub, Woodhill, and Yarrabilba – was 39 per cent higher than the 12-month average.
Report author and Property Credit CEO Giordano Stepancic said there was a “stable increase” in property listings in Jimboomba specifically, which had a “a lower median list price of $667,000”.
He said Jimboomba had an “inventory level” of more than 8 months.
This means if no more properties were put on the market in Jimboomba, it would take until early next year for all current listings to be sold.
“[This] firmly positions it as a buyer’s market,” Mr Stepancic said.
“This higher inventory level suggests that buyers have substantial leverage in negotiations, with a good selection of properties available.
“This environment is particularly favourable for first-time buyers or those looking for value, as they may find more flexible pricing and terms in Jimboomba compared to Cedar Vale.”
He said Cedar Vale was currently more suited to sellers.
“The real estate markets present contrasting opportunities for potential buyers,” Mr Stepancic.
“Cedar Vale has seen a significant increase in listings, rising from 9 to 14, with a median list price of $848,400.
“The inventory level of 4.62 indicates a moderately competitive market that slightly favours sellers but still provides room for negotiation for buyers, especially given the higher price point.”
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