G O L D C O A S T • I P S W I C H • M A C K AY
CORNUBIA OUTLOOK
NOVEMBER 2016
community services, the property sector, construction
Cornubia is an up-and-coming suburb situated in the thriving city of Logan. It is just 30 kilometres south east of Brisbane and 30 kilometres north of the Gold Coast.
and agricultural industries. Over the next 20 years Logan will continue to be one of
Cornubia is a relatively new area of urban subdivision adjacent to Carbrook in the watershed of California Creek and the Logan River.
the fastest growing cities in Queensland. Given its central geographic location and available young workforce, Logan is ideally place for continued growth in the
Logan city is a major economic destination with key industries including manufacturing, retail, business and
LOCATION: Positioned in the Brisbane growth corridor with the Gold Coast to the south.
YATALA ENTERPRISE AREA: The 127 hectare
southeast Queensland region.
PROPERTY PRICE GROWTH: The median
EMPLOYMENT GROWTH: Logan is currently
(realestate.com.au 2016).
132,690 people. Over 53,000 new jobs will be
price for housing in Cornubia is $557,500
industrial hub is projects to inject $1 billion
RENTAL GROWTH: Median rental yields
Gold Coast 2016).
momentum, with the weekly advertised rent
in the economy over the next 10 years (More
for houses in Cornubia are showing market
home to 19,490 businesses, employing
created in the Logan area to accommodate expected population growth.
being $495 (Your Property Investment 2016).
A new emphasis on social factors such as dining, entertainment, recreation and cultural diversity is rounding out the city’s new image.
A combination of affordable property prices, a solid pipeline of development and infrastructure, and the proximity to job hubs is making Cornubia an ideal choice.
Many of the Logan region’s older suburbs have been revitalised through urban renewal projects.
ECONOMIC OUTLOOK:
YATALA ENTERPRISE AREA
EMPLOYMENT GROWTH Logan’s population is expected to top 473,000 by 2031 and the Logan City Council has a Priority Infrastructure Plan in place to help manage the city’s growth in terms of housing and employment.
cities in Queensland. With this in mind, Logan City Council
The population of Cornubia has grown rapidly, more than doubling from 3,300 people in 2001 to 6,833 in 2011 (Australian Burea of Statistics, 2011).
capital to the north and the bustling Gold Coast to the
Facilities in Cornubia include the Mount Cotton Driver Training Centre, the California Creek Golf Course and the Cornubia Park Sports Centre. St Matthew’s Catholic Primary School opened in 1984 and Chisholm Catholic College opened in 1992. Logan is home to 19,490 businesses, employing 132,690 people. It will continue to be one of the fastest growing
Logan produces a Gross Regional Product (GRP) of $9.70 billion – 3.3% of Queensland’s Gross State Product (GSP). TThe city’s key industries include manufacturing, retail, business and community services, the property sector, construction and agricultural industries. This already diverse economy has the potential to grow and diversify further, while also adding a strong focus on technology and knowledge-based industries.
has pledged to create at least 53,000 jobs to support the population growth. Logan is ideally positioned in the centre of one of southeast Queensland’s highest growth employment hubs. With booming industrial development at its core, Queensland’s south, Logan’s job market is expected to grow significantly over the next few years. The $9 million Beenleigh Town Centre project is one of the city’s major redevelopments and will deliver on Logan City Council’s vision for the area’s central business district. The project will provide business and employment opportunities, and catalyse development and small business investment.
The Yatala Enterprise Area (YEA), one of Queensland’s premier industrial addresses, is set to be a market leader in terms of innovative industrial development and will facilitate growth in long-term employment (Beenleigh & Region 2015). In terms of development, the YEA is focused around attracting businesses in advanced manufacturing in food and beverage, construction materials, machinery and
E M P LOY M E N T G R O W T H O P P O R T U N I T I E S : • Wembley Road and Logan Motorway Interchange: will create 3,000 new jobs
equipment, plastic and chemicals, warehousing, transport
• Upgrade of Mt Lindesay Highway: will create 30,000 new jobs
and distribution. The YEA has enough capacity to sustain
• Yatala Enterprise Area: will create 40,000 new jobs
development until 2046.
RESIDENTIAL MARKET INSIGHTS Due to its central geographic location and available young workforce, Logan is ideally placed for continued growth in the South East Queensland region. Logan’s property market is expected to be a
hotbed of activity during the next decade due
• 41.2% of the Logan population is in the process of purchasing a home, 22.3% own their own homes and 30.5% are currently renting. • Market characterised by lower property entry price and high rental yields. • Housing supply is consistent with population demand (Propertyology 2015).
HOUSING SUBURB PROFILES: SNAPSHOT OF THE NORTHERN GOLD COAST MEDIAN PRICE
to its proximity to Brisbane and the Gold Coast,
offering multi-sector employment opportunities and a beach lifestyle on weekends.
Its bushland setting, established retail
infrastructure, proximity to the Logan River and
CORNUBIA M O U N T C OT TO N S H A I L E R PA R K
easy access to Brisbane and the Gold Coast made it an attractive prospect for buyers.
The Cornubia Forest Nature Reserve, located in
$557,000 $504,000 $513,000
W E E K LY M E D I A N A D V E R T I S E D R E N T
the north west of the suburb, is a 196-hectare
nature refuge, popular for recreational activities and is a major tourist attraction.
The Logan area is about to embark on a
major growth phase due to land availability
CORNUBIA M O U N T C OT TO N S H A I L E R PA R K
$495 $460 $450
(Urban Developer 2015). Median rental yields for both apartments and houses in Logan
are showing market momentum with 7.7%
G R O S S R E N TA L Y I E L D
returns for apartments and 6.3% for houses (Commonwealth Bank 2016).
High-level growth is a result of affordable
properties with above-average rental yields, widespread transport links, a diverse mix
of industries providing employment and a growing economy.
CORNUBIA M O U N T C OT TO N S H A I L E R PA R K
4.83% 4.74% 4.56%