Property Gold Coast for PPOR - Hold or Sell now? Will the market crash..?

Discussion in 'Property Experts' started by Eli6, 2nd Jul, 2021.

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  1. Eli6

    Eli6 New Member

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    QLD
    Hi - I have been hearing more and more that due to inflation in the U.S and current trends, the property value of houses here at some point will drop. We used to have some IP and we sold them. We now have one PPOR and prices on the Gold Coast have increased a lot as you all know. We are considering selling now while the market is so hot, to pay off our loan and have substantial money as a "preventative" for a potential market crash. The worry being that banks increasing rates and property prices falling, so that we will never again make the same amount on our current house and if we had to sell due to jobs/cost of loan, we wouldn't cover the cost of the loan. I would love to get some advice please from those in the know in finance/property and the potential market in the next 2 to 3 years...Thanks :)
     
    Eli6, 2nd Jul, 2021
    #1
  2. Ian87

    Ian87 Well-Known Member

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    Look at a graph in house prices over the last 100 years. Notice which way the arrow goes. If you need/want money now then sell otherwise hold on and enjoy higher returns in the future. I wouldn’t worry about a massive crash unless you need short term returns right away. Just let the market do it’s thing.
     
    Last edited: 2nd Jul, 2021
    Ian87, 2nd Jul, 2021
    #2
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  3. boganfromlogan

    boganfromlogan Well-Known Member

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    Good thing about a residence is you can live in it!!

    Even if price fluctuates.

    Selling an IP would be a consideration...but Ur home?
     
    boganfromlogan, 2nd Jul, 2021
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  4. Eli6

    Eli6 New Member

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    Yes its not ideal. Just been quite hard the last year with income due to Covid and if prices did fall and we had to sell and not make any money, we would really struggle. Its kind of just a "what if" I guess with the value.
     
    Eli6, 2nd Jul, 2021
    #4
  5. boganfromlogan

    boganfromlogan Well-Known Member

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    Understand. Tricky times. At least the home has increased.
     
    boganfromlogan, 2nd Jul, 2021
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  6. Travelbug

    Travelbug Well-Known Member

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    What is the plan if you sold now?

    Why do you think you would have to sell if prices dipped?
    If you aren't selling a dip shouldn't make any difference. Prices will increase again.

    Yes prices have gone up a fair bit but people moving to Queensland is at an all time high. I can't see prices dipping much. I'm no expert in this area though. I have been watching the market but we only relocated here last year.
     
    Travelbug, 2nd Jul, 2021
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  7. Rich2011

    Rich2011 Well-Known Member

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    Which suburb is it in?
     
    Rich2011, 3rd Jul, 2021
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  8. Eli6

    Eli6 New Member

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    Upper Coomera
     
    Eli6, 3rd Jul, 2021
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  9. boganfromlogan

    boganfromlogan Well-Known Member

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    Hinterland property doing quite well. Is it a bit ( socially ) isolated?

    Or in an estate?
     
    boganfromlogan, 3rd Jul, 2021
    #9