Good time to cash out in melbourne?

Ive been thinking about selling my investment property in SE Melbourne, surely prices cant go any higher. Does anybody else think its a good time to cash out?

Im worried about another recession coming next year, theres alot of businesses going under down here...

 

How many ASX 300 companies based in Melbourne went broke.

Didn't you read, all of them made record profits this year.

They have been saying that for 50 years.

Don't call the bull market too soon...

 

100 business going bust each month in Melb. Maybe smaller business’ but its going to have some impact.

https://www.google.com.au/amp/s/www...ws-story/cb832d1099a92821b84ba86a0865e432?amp

 

If the plan is to sell and buy back later after it falls, you have to consider cgt, selling costs, buying costs, and your ability to buy back before (if?) it rises again.

if the plan is to sell and switch to a different property type or asset class, different consideration.

what is the cost if you sell, then buy back too late, or not at all? If you still need exposure for the long term, selling just because it seems expensive can cost you long term. Are you so sure that it will fall in the long term? Or in your ability to buy back when its lower?

 

My crystal ball is somewhat hazy, but I think the Melbourne boom has at least another 6 months in it, possibly quite a lot longer. If you're wanting to sell near the peak, I don't think we're there yet.

 

If I sold now I'd be putting the money into renovating my PPOR. Then looking to buy another investment property in 2-4 years depending on how the market is going at that time

 

I think 2023-2024 will be the ideal time to sell in Melbourne. That's what I plan to do and I'll be putting the proceeds into shares

 

I guess the only way to look at the future is-- it's unknown..

Maybe look at it like this --what will you end up in after tax dollars with all the exit costs--then picture the market buying back in 2-4 years..

Everyone i know who sold in inner southside Brisbane over the past 2 years are finding it very hard to buy back in and have made a serious mistake even in after tax dollars..

 

Recently, a few Chinese friends I know, sent their kids to Singapore instead of Melbourne to study.

They asked me a few times, are Westerners in Australia racists against Chinese? I kept replying no, but obviously they are not convinced. Anti Chinese attack in the media is really taking a toll for Australia especially Melbourne and Sydney.

 

I'd rather sell near the top then be forced out at the bottom.

 

Yeah even Indians and Pakistanis get along really well in Melbourne lol.

Anyway, the Chinese elites will still send their kids to Harvard, Stanford, MIT and the likes. Mid tiered Unis like ours in Australia will be impacted

 

Journalism has a democratic function.

So if Chinese military aircraft are entering Taiwanese air space and/or Chinese officials are making threatening statements towards Australia and/or any other nation the media should disseminate these realities.

Similarly, if the NSW Premier resigned due to a looming ICAC investigation the public also has a right to know.

So the media should be free to report any events; censorship does not serve democracy.

 

Yes I don’t doubt that. Just saying it has its repercussions whether we like it or not.

For me though, I’d prefer that we go quietly but richer/stronger. We are in Asia and in this upcoming Asian century.

 

Australia needs immigration but unfortunately when you have an upcoming superpower (China) challenging an existing superpower (USA) there will undoubtedly be some political/economic fallout for the USA's allies such as Australia in terms of less Chinese money flowing into our country.

Not much Australia can do though whilst China and the USA butt heads; we are far too weak to stand on our own two feet.

The negative impacts for Australia may not be that severe, however; we'll know soon enough when our international borders reopen and data is aggregated in view of immigration anyhow.

 

I think Canberra overdone it really, AUKUS, Quads, Five Eyes… We are in everyone of them that’s against China!

Anyway, all is not lost for Australia just the growth won’t be the same as when we were China friendly. The government will open up migration to boost growth, the Indians will be very happy to fill in the Chinese gap and be all over our border lol….

Australia will be filled with Asians as majority of the population this century, be they Chinese, Indians or Southeast Asians.

 

Meh. The same thing happened with Indian students a decade ago. I don't even know what provoked it and whether it was even real, but out of nowhere Indian students were getting attacked (supposedly) and it was all over the Indian media. Who remembers it now?

So these Chinese students are going to where, the US? Where it's probably no more or less hostile to Chinese students? Whatever narrative you have there is a narrative at best, and will disappear like mist the moment China has another country it's more upset by.

 

Yeah, let’s hope so…

 

Lol, they are buying China instead ironically but true! Go figure! After all it’s where the dough is

I have a few friends from HK bought 8 figure USD into Alibaba and Tencent recently.