As buyers agents, we are naturally drawn to areas that seem like they are starting to realise their full potential. These locations often have somewhat chequered histories, but are finally starting to be appreciated for everything that they offer. And, as their reputations are improving, they also tend to be more affordable with plenty of scope for growth.
Slacks Creek is a prime example of such an area. Part of the City of Logan, it sits approximately 3km east of Logan City and 25km south-southeast of Brisbane’s CBD. The convenience of this location, and the easy commute it offers, have been major factors in the suburb’s recent rejuvenation.
Named after an early landholder, Slacks Creek is believed to be one of the first parts of the Logan area settled by Europeans. Initially established as farmland, the construction of the first bridge across the Brisbane River opened the area up for further development. Since then, it has become a thriving suburb, known for its green spaces, quiet streets, and easy access to the M1.
Slacks Creek is a largely blue-collar area, with a higher than average percentage of residents working as labourers and tradespeople. This, combined with the proximity to Logan Central, has previously led many outsiders to hold negative views of the area. However, this is rapidly changing, thanks to targeted public and private investment, key infrastructure upgrades, and ongoing community engagement.
Most significantly, Slacks Creek is now home to one of the largest IKEAs in the Southern Hemisphere. This complements the wide range of commercial and light industrial sites located in and around the suburb. There is also an increasing selection of small cafes and coffee shops dotted throughout the area.
Young families are particularly well served in Slacks Creek, with several well regarded schools located in the surrounding suburbs. There are also multiple well maintained public parks, including the Slacks Creek Greenlink – a kilometre long shared cycling and walking path.
Luke and Julian each have over 20 years of property investment experience.
Whether you are buying for yourself, or looking to invest, the biggest appeal of Slacks Creek property is its price. The median value of houses in the suburb sits comfortably below both the Queensland and City of Logan averages. Slacks Creek also represents great value compared to its neighbours, with median prices substantially higher in many of the surrounding areas.
Importantly, you also get a lot for your money in Slacks Creek, with most homes sitting on 600m2 or more. There is also a high concentration of family homes, with more than half the properties in the area having 3 bedrooms. As you would expect, this has made Slacks Creek especially popular with first home buyers and young families.
Given the significant population of tradespeople in the suburb, it is also unsurprising that many homes have been renovated. This has helped lift the standard of properties on offer in the area and improved the presentation of most streets. It is also a good sign for investors looking to maximise capital growth, as updated homes usually sell for a premium.
Slacks Creek also has plenty to offer investors who are more interested in their regular rental returns. Demand for rentals is generally quite strong, with over 30% of the population renting and a consistently low vacancy rate. For those wanting to maximise their rental income, we recommend focusing on townhouses, which can achieve yields of over 6%.
It does not matter if you are a first timer or a highly experienced property investor, the process can be daunting. Even in areas where the investment potential is obvious, like Slacks Creek, there is still a level of uncertainty. After all, it is a big financial commitment, and you want to make sure your money is being well spent.
This is where partnering with a professional buyers advocate, like Search Party Property, can really help. When you work with us, we will guide you through every step, from setting your search criteria to negotiating the sale. We will also assist you to set your investment strategy and stay focused on your long-term plans.
We believe that our structured approach to identifying and analysing potential properties is the biggest strength of our service. Guided by your tailored investment strategy, our team of dedicated researchers will shortlist the best opportunities available. This will be based on detailed data on recent market performance, changes to local demographics, and investment and development plans.
We will also help you to work through the different choices and pick the most suitable property. When you have, we will then walk you through arranging all the required reports and planning your purchasing approach. All going well, the property will be yours, and you can get it rented and producing income – which we can also assist with.
To help you maintain momentum, once you have settled on one investment property, we will start working on the next. Depending on your goals, you may also be interested in accessing our highly effective Property Portfolio Accelerator Model. This approach has helped many of our investors rapidly expand their portfolios, acquiring several properties in just a few years.
For more information on the Search Party Property process, or navigating the Slacks Creek market, contact our friendly team today.