A DIVISION OF Suburb Profile LOCATION The suburb of Marsden is located approximately 30 minutes from the CBD within the boundaries of the Logan City Council which is one of the largest and fastest growing cities in Australia. The suburb s immediate proximity to the Logan Motorway which connects with the M3 Pacific Highway affords residents easy access to Brisbane, greater Logan and the Gold Coast. The suburb is boardered to the north by the Scrubby Creek recreation corridor which is a significant natural asset to the community. POPULATION AND DEMOGRAPHICS Logan City s population is estimated to be more than 290,000 persons which, over the next 20 years is projected to grow by up to 200,000 persons. In line with this is Council s vision to create at least 53,000 new jobs to support this population growth. This high level of population growth will inevitably fuel strong demand for new dwellings in the area. + COUNCIL S VISION TO CREATE POPULATION GROWTH 200,000 53,000 NEW JOBS At the time of the 2011 Census, Marsden was home to 11,490 persons, up from just over 9,000 persons in 2006 and 8,570 persons in 2001. According to the latest data released by the Queensland Office of Economic and Statistical Research, the population of Marsden is forecast to grow by more than 2,800 residents over the 20 years to 2031 which translates to demand for an estimated 900 additional dwellings. The suburb is primarily a family area with almost half of all households occupied by couples with children at home. Couple only households account for the second largest proportion of households. Collectively these two demographic groups make up 73% of the area s population. Consequently, underlying demand for dwellings within the suburb is principally for three and four bedroom houses. TRANSPORT AND ACCESSIBILITY Local City Council has easy access to a number of major transport routes which afford residents access to the national highway network via the M3 Pacific Motorway. The suburb of Marsden is well serviced by a high level of public transport infrastructure. More particularly, the Beenleigh Rail Line which connects the local area with the CBD via two stations (Kingston and Loganlea) within close proximity of Marsden. Furthermore the Gold Coast / Airport railway line operates from Loganlea station which provides residents with an additional service to the Brisbane CBD and a direct link with the Gold Coast region. BRISBANE CBD 45 MINS GOLD COAST 40 MINS BRISBANE CBD 30 MINS TRAIN 10 MINS BUS 10 MINS PARK 3 MINS SCHOOL 5 MINS SCHOOL 5 MINS LOGAN CENTRAL 8 MIN GOLD COAST 30 MINS 1 - South Bank Corporation
A number of major employment nodes are located within and around Logan City including Logan Central, Springwood, and the Yatala precinct within the Pacific Innovation Corridor. Collectively these areas employ tens of thousands of people and are a key driver of dwelling demand in the area. Residents are also afforded access to a number of number of TransLink bus services connecting Marsden to the Brisbane CBD and major transport hubs at Mt Gravatt and Logan City. The Garden City Bus Station is one of Brisbane Transport s major hubs which provides services which link the area to the Brisbane CBD, major employment nodes and greater South East Queensland. INFRASTRUCTURE & EMPLOYMENT Logan City is situated along one of the most important economic corridors in Australia. The region is considered to have a vital role in the continued development of industries which are growing in support of the Brisbane CBD, the Port of Brisbane and the Brisbane Airport. In line with the rapid population and economic growth occurring throughout the Logan region has been the creation and implementation of the Priority Infrastructure Plan which is a long term plan to manage Logan s growth and plan for the city s future infrastructure needs. More specifically, the Plan enables services and facilities to be efficiently delivered in order for current and future residents to be supported by high quality infrastructure. A number of major employment nodes are located within and around Logan City including Logan Central, Springwood, and the Yatala precinct within the Pacific Innovation Corridor. Collectively these areas employ tens of thousands of people and are a key driver of dwelling demand in the area. Logan City Council s budget for 2013/14 incorporates $775.5 million in operational and capital expenditure focused around the improvement, expansion and creation of roads, water and community infrastructure. This significant investment has been committed by Council to ensure the needs of the area s rapidly growing population are met. EDUCATION A large selection of both private and public schools service residents of Marsden including the Marsden State School, Burrowes Primary School, Loganlea State School, Waterford West State School, Crestmead Primary, Kingston College and Kingston Primary. John Paul College is located within neighbouring Daisy Hill and offers schooling from Preparatory year through to Year 12. The College is considered to be one of the leading independent schools in Australia. St Francis College in Crestmead is another one of the area s premium educational institutions which again, services students from Preparatory level through to Year 12. DRIVERS OF DWELLING DEMAND Consistent with the large numbers of families living within the area are a plethora of child care and day care centres including the Marsden Kindergarten & Child Care Centre, Macarthy Road Early Childhood Education and Care Centre, Kidi Kingdom Child Care and KDK Kids First. Griffith University has two of its five campuses located within the neighbouring suburbs of Mt Gravatt and Logan. Griffith is ranked as the 8th leading university in Australia and within the top 200 worldwide. The Logan Campus offers training facilities
Marsden is home to Scrubby Creek which is an important piece of community infrastructure is a unique feature of the suburb which is considered to significantly underpin demand for housing in the area. across a wide range of fields including the areas of business, management, justice, education, business administration, nursing, child care and family studies, health and arts. Additionally, the Metropolitan South Institute of TAFE (MSIT) has two of their six campuses located within Logan City at Browns Plains and Meadowbrook. MSIT offers a range of 150 courses from Health, Business, Finance, Justice, Creative Industries, Information Technology, Hairdressing, Horticulture and Environment. Both Griffith University and MSIT are drivers of dwelling demand within the area from both students and academic staff. HEALTH The existing health and medical infrastructure in place throughout the greater Marsden area provides residents a high level of medical support from local General Practitioners through to major hospitals. Major public hospitals serving Marsden and the Logan City Council region are located in the neighbouring suburbs of Logan and Coopers Plains. The Queen Elizabeth II Jubilee Hospital is situated in Coopers Plains and offers a full medical suite for public and private patients. Logan Hospital in nearby Loganholme is another large full service public hospital which offers a full array of services from Emergency Medicine, Obstetrics, Neurology, Pediatrics and Palliative Care the hospital provides a high level of surgical and medical support to the local community. The suburb is supported by a range of medical centres including the Marsden Clinic, Medeco Medical Centre and Medihealth Meadowbrook. RETAIL AMENITY Marsden is afforded excellent access to a wide variety of retail stores, supermarkets and supporting services. The centrally located Marsden Park Shopping Centre is home to a large Coles Supermarket in addition to over 35 specialty retailers. Within close proximity of Marsden is the Logan Hyperdome which is Logan City s largest shopping centre. The Hyperdome is home to anchor tenants Myer, Big W, Kmart, Woolworths, Aldi, Hyperplex Cinemas and AMF Bowling in addition to more than 220 specialty stores. Westfield Garden City is located in in nearby Mt Gravatt and is easily accessible by private vehicle or via the numerous bus services which operate throughout the area. Westfield Garden City s major retailers include David Jones, Kmart, Coles, Woolworths, and contains over 310 specialty stores, cafes and restaurants. Additionally the centre is home to a state-of-the art cinema complex operated by Event Cinemas. A $400 million expansion of the Centre is currently underway which will result in Garden City being one of Brisbane s largest shopping centres. RECREATIONAL AMENITY Marsden is home to Scrubby Creek which is a large recreation corridor which provides residents with a high level of both passive and active recreational pursuits. The recreation corridor offers extensive bike and walkways in addition to a number of parks featuring children s playgrounds and bbq areas. This important piece of community infrastructure is a unique feature of the suburb which is considered to significantly underpin demand for housing in the area. Within close proximity of the suburb is the Stratton Recreation Reserve and the 80 hectare Berrinba Wetlands. A large number of sporting clubs and facilities are located within Logan City Council including six aquatic centres, three indoor sports facilities, skate parks and a variety of health and fitness centres. Sporting
Consistent with the trend observed across the suburb s housing market, sales volumes of vacant land rise in line with injections of new supply supporting the notion that a level of underlying demand for new residential properties exists throughout the suburb. clubs within the area include tennis, volleyball, netball, cricket and AFL and the Logan Broncos Junior Ruby League Academy. RESIDENTIAL MARKET FUNDAMENTALS DETACHED HOUSING MARKET The performance of the suburb s detached housing market has been impressive. Over the ten years to June 2013 the median house price within the suburb has grown by an average of 4.4% per annum. In quantum dollar terms, this equates to a rise in median values of $105,000. On average, over the past ten years there has been an average annual demand for just over 230 houses within Marsden. Sales volumes within the suburb move in line within injections of new supply suggesting an underlying level of demand for new dwellings exists throughout the suburb. Marsden s detached housing market remains affordable, particularly in comparison to the broader Logan City Council area. For the 2013 financial year, the median price of a home within Marsden was 18% cheaper than a home within Logan City a statistic which points to a market which is well positioned for future growth underpinned by those values being recorded throughout Logan City. VACANT LAND MARKET Growth across Marsden s vacant land market has been equally healthy with the median land values VACANT LAND 5.0 % rising by an average annual rate of 5% across the ten year period to June 2013. Consistent with the trend observed across the suburb s housing market, sales volumes of vacant land rise in line with injections of new supply supporting the notion that a level of underlying demand for new residential properties exists throughout the suburb. The gap between the median price of vacant block of land within Marsden when compared with the greater Logan City area is narrower than that which exists across the housing market however, at 8%, vacant land within Marsden is still more affordable than allotments throughout Logan. HIGH GROSS RENTAL YIELD RENTAL MARKET 6.0 % Based on the latest data released, the rental market within Marsden is in a state of undersupply with particularly high gross rental yields currently being achieved and a notably tight vacancy rate in place. As at November 2013, the average gross rental yield being achieved within Marsden was 6% which is amongst the highest in the State. Furthermore, the suburb s vacancy rate currently sits at 1.2%. To put this into context a vacancy rate of 3% is generally considered to be indicative of a balanced market where a supply / demand balance is in place. This combination of high gross rental yields together with tight vacancy rates point to an undersupplied rental market which is likely to underpin future growth in weekly rents.
- AT A GLANCE The suburb of Marsden is located approximately 30 minutes from the CBD within the boundaries of the Logan City Council which is one of the largest and fastest growing cities in Australia. The suburb is bordered to the north by the Scrubby Creek recreation corridor which is a significant natural asset to the community. Logan City s population is projected to grow by up to 200,000 persons. In line with this is Council s vision to create at least 53,000 new jobs to support this population growth. This high level of population growth will inevitably fuel strong demand for new dwellings in the area. The suburb is primarily a family area with almost half of all households occupied by couples with children at home. The suburb of Marsden is well serviced by a high level of public transport infrastructure. Logan City is situated along one of the most important economic corridors in Australia. A number of major employment nodes are located within and around Logan City including Logan Central, Springwood, and the Yatala precinct within the Pacific Innovation Corridor. Collectively these areas employ tens of thousands of people and are a key driver of dwelling demand in the area. A large selection of both private and public schools service residents of Marsden and, consistent with the large numbers of families living within the area are a plethora of child care and day care centres. Griffith University has two of its five campuses located within the neighbouring suburbs of Mt Gravatt and Logan. Griffith is ranked as the 8th leading university in Australia and within the top 200 worldwide. Additionally, the Metropolitan South Institute of TAFE (MSIT) has two of their six campuses located within Logan City at Browns Plains and Meadowbrook. Both Griffith University and MSIT are drivers of dwelling demand within the area from both students and academic staff. The existing health and medical infrastructure in place throughout the greater Marsden area provides residents a high level of medical support from local General Practitioners through to major hospitals. Marsden is afforded excellent access to a wide variety of retail stores, supermarkets and supporting services. The centrally located Marsden Park Shopping Centre is home to a large Coles Supermarket in addition to over 35 specialty retailers. Marsden is home to Scrubby Creek which is a large recreation corridor which provides residents with a high level of both passive and active recreational pursuits. This important piece of community infrastructure is a unique feature of the suburb which is considered to significantly underpin demand for housing in the area. The performance of the suburb s detached housing market has been impressive. Over the ten years to June 2013 the median house price within the suburb has grown by an average of 4.4% per annum. Marsden s detached housing market remains affordable, particularly in comparison to the broader Logan City Council area and is well positioned for future growth underpinned by those values being recorded throughout Logan City. Growth across Marsden s vacant land market has been equally healthy with the median land values rising by an average annual rate of 5% across the ten year period to June 2013. Based on the latest data released, the rental market within Marsden is in a state of undersupply with particularly high gross rental yields currently being achieved and a notably tight vacancy rate in place. Disclaimer: Whilst this information has been carefully compiled no warranty or promise is made in relation to its accuracy or correctness. The information outlined within this document is a subjective interpretation by our company and should not be relied upon for investment decisions. Interested parties should undertake independent inquiries and investigations to satisfy themselves that any details herein are true and correct. No forecasts are being made by our company about potential capital gains. Any historical price growth information does not imply such growth will occur in the future. This document and the material contained herein are copyright and cannot be reproduced without our permission. This document was compiled in November 2013 and remains current for six months from compilation. The product and pricing information contained within this document is based on price lists, brochures and third party information obtained throughout the course of our research. This information has been verified to the best of our ability but Resolution Research & Marketing Pty Ltd accepts no responsibility for reliance on this information. This information has been prepared independent of our client (nominated above) and at our own direction.