Price is right for Jimboomba property market

RECORD low interest rates and affordable house prices mean there has never been a better time to invest in the west Logan property market.

OUTLOOK: Property director Meagan Read has called on prospective property buyers to invest in Jimboomba ahead of an expected jump in property prices.

OUTLOOK: Property director Meagan Read has called on prospective property buyers to invest in Jimboomba ahead of an expected jump in property prices.

This is the view of property director Meagan Read, who specialises in suburbs including Mundoolun, Cedar Vale, Cedar Grove, North Maclean, South Maclean, Jimboomba, Flagstone, Park Ridge and Beaudesert.

Ms Read said a recent BIS Oxford Economic property forecast predicted Brisbane median house prices would increase 20 per cent by 2022.

"This will flow on to Jimboomba and Beaudesert. We have found that anything happening in Brisbane trickles down...it will definitely have a ripple effect this way," she said.

"House prices in Jimboomba and Flagstone are still steady and very affordable compared to what we're seeing in other surrounding areas.

"Purchasing a home that's currently not at an inflated price will see long-term benefits, especially with the forecasted 2020 median house price rise.

"The area is more affordable than Brisbane, the Bayside and the Gold Coast."

Australian Bureau of Statistics data from 2018 revealed Jimboomba grew by 7.9 per cent, one of the highest rates in south-east Queensland.

There are also signs of growth in surrounding suburbs with the Greater Flagstone Priority Development Area expected to attract 120,000 people by 2050.

Ms Read said the west Logan and Scenic Rim areas were attractive for buyers seeking a relaxed lifestyle

"Acreage living is a growing and sought after lifestyle and we're seeing plenty of buyers come from the western suburbs like Springfield Lakes as well as from interstate chasing bigger backyards and room for the family to enjoy," she said.

"I believe people always buy out this way for acreage properties and the lifestyle. Not for small development blocks.

"We're also certainly a hot spot for investors with plenty of development opportunity to come our way over the next three to five years."

With growth expected to surge in Jimboomba and surrounding suburbs, Ms Read said it was vital for governments to ensure infrastructure investment kept up with the pace.

Ray White's south-east Queensland Vacant land report released earlier this year revealed a sharp decline in the number of vacant land sales and development application lot approvals in Logan last year when compared to 2017.

Vacant land sales were down 21.26 per cent while development applications dropped 47.55 per cent, the greatest fall recorded in south-east Queensland.

The report showed median land prices were still going strong with a 3.41 per cent increase to $227,500.

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