Hi I'm owning an one bed + study + carpark apartment in west end brisbane. I've been owning it since 2018. It goes well for rental, but after paying off every expenses (e.g. mortage, strata, etc), couple of thousand dollars goes out of my pocket every year. There was not much capital growth since I bought it (about 20k growth) while houses have high growth in BCC and other councils around. If I sell my apartment now, I will be affordable to buy 750k - 850k houses. Any advices will be very welcome. Thanks.
Hi Bluebear What is your question exactly? Did you buy a new/newish apartment? Brisbane apartments haven't done a lot for a while, but these are now on the move, especially smaller strata complexes are in high demand, its a tight market, with pricing having moved in the last 3 months.
Hi Property Twins, I bought a new apartment in 2018. I'm paying about 4k strata annually. My apartment is the first stage in multiple stages projects. At the moment, the constructur is building third stage. I think there will 1 or 2 more stages in this project. I'm thinking to sell it and buy a house in Brisbane since the capital growth performance is not so great so far. If I will sell it now, I think my budget will be around 800k for houses in Brisbane. I want to get some advices about this move.
What Rolf said. Sounds like the growth may be held back due to upcoming supply. Sometimes it's ok to offload so you can get into a better asset.
Have you considered borrowing against it to attain a house with higher growth opportunities? The combined slightly negative gearing of the unit, and the expected positively geared house may help balance each other out at tax time?
