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3 Monduran Street, Marsden sold in December 2023 for $551,000.
Buyers are racing to secure properties in Logan, with some properties in the city selling within three weeks.
Marsden is one of the fastest-selling suburbs in south-east Queensland, with homes breaking ground in just 18 days, well below the median price of 36 days, according to Prop Track data released today. It became clear.
Crestmead was also popular, with properties selling for 19 days, followed by Browns Plains at 20.5 days, Regent's Park at 21 days and Waterford West at 22 days.
129 Chambers Flat Road, Marsden sold in December 2023 for $650,000.
The only Brisbane suburbs to make it into the top 10 were Heathwood and Parkinson, where properties sold in 18 and 21 days respectively.
Three suburbs of Ipswich also made the list, with Leichhardt having the fastest selling rate in the city, with homes selling in 19 days.
Cory Boyd attracted national media attention when he put a bin up for auction at 19 Billabong Street, Crestmead. It was an unreserved property that had been left abandoned by its original tenants.Photo: David Clark
Ray White Marsden AKG agent Cory Boyd recently attracted national attention by auctioning off a derelict house in Logan, but the town is also attracting attention from buyers it had not previously considered. He said he is collecting them.
“We’re finding that people who weren’t thinking about Logan before are coming out for Logan.
“Right now, there are a lot of buyers who just want to get into the market and are willing to do some renovation work to secure something,” Boyd said.
Rebecca Couderman of Ray White Marsden AKG sold a 1,525sq m property at 51 Blue Gum Drive, Marsden, for $990,000.
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Rebecca Kuderman, also of Ray White Marsden AKG, sold a 1,525 square meter property at 51 Blue Gum Drive, Marsden, for $990,000 last week.
“Marsden has proven to be a good location for many people, with prices being lower compared to other suburbs,” she says.
“For homeowners, more people will buy a four-bedroom, two-bathroom home in this location near a popular high school.”
Angus Moore, Prop Track Economist
Prop Track economist Angus Moore said buyers were looking to Logan for affordability.
“What we're seeing across the country is that more affordable areas tend to sell the fastest,” Moore said.
“In an environment where interest rates are rising extremely rapidly and house prices are at 30-year value levels, it is difficult for buyers to price out urban areas and look further afield to these affordable suburbs. is not surprising.”
25 Taringa Street, Brinsmead was sold in November 2023 for $775,000.
In regional Queensland, the median time on the market was 45 days, but buyers in Brinsmead, Cairns snapped up properties in just 12.5 days.
Svenson Heights in Wide Bay and Freshwater in Cairns both took second place within 15 days of release.
“The Cairns and Wide Bay region has performed extremely well over the past year,” Mr Moore said.
“We continue to see a lot of interest in these areas, which may explain why homes are selling so quickly in these areas.”
Mr Moore said buyers across Queensland had half the choice they had before the pandemic.
“Obviously that means that even if there is no change in demand, the fact that the number of properties for sale will be cut in half will make it more competitive and properties will sell faster,” Moore said. said.
35 Chopin Court, Nerang was sold in September 2023 for $1.49 million.
Nerang was the fastest-selling suburb on the Gold Coast, with buyers taking 22.5 days to buy, followed by Maud's Land at 26.5 days and Pacific Pines at 27 days.
PropTrack data is based on the suburbs with the lowest number of days on realestate.com.au in the last 12 months to November 2023.
At least 30 suburban sales were required.
