Property in Gaythorne QLD

hi All
i own an IP in Gaythorne (nth of BNE). The property purchase price was $465K in 2014 and now it is $480. It has not appreciated in the past 5yrs..my expenses are increases on this 3BR TH and the agent I purchased from tells me that the property prices in QLD will go high in near future.
Want to get expert thots on this forum if it is worth keeping it or selling it?
Thanks

 

Im not an expert or a thot. I dont think you've held it long enough.

 

Is it worth holding...as I have already lost in last 5yrs by it not appreciating and worried if it will go down hill over the next few..
Thanks

 

If you buy real estate expecting to have a capital gain as if it's a guaranteed right, nothing but speculation and gambling, as you have zero control on the macro market factors that determine value a buyer will pay at a given time. If the property is not functional for you to hold, eg. cashflow unsuitable, then off load it. If you want a new PM then PM me, I can refer someone nearby. Perhaps they're not getting you enough rent for it...

 

I cracked up at that!
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@Amu I don't think you're going to lose money on it if you hold for longer, but I can't comment on whether the appreciation will accelerate. I guess it depends how negatively geared the property is and if you're missing out on other opportunities by holding onto this one?

 

How long should one hold an IP for it to know whether it is worth appreciable?
it is 5yrs and capital growth is ZERO.
Thanks

 

Hi thanks
Rent seems OK. expenses and capital growth has not been significant..hence the concern..
do not wish to hold on to it for more longer with the hope it may increase and what if it doesnt??

 

What if it does?
What were you thinking when you bought it?

 

i had purchased with an intention of growth in the BNE area as Sydney is swapped out with property market and growth has become stagnant.

 

And what was the plan if it didnt go up as soon as you bought it?

 

I was assured by the agent that prices will be on a high in BNE...so property price bound to grow soon!
Now it 5yrs from purchase and still no growth seen..
Thats the main concern..Thanks

 

Is that IP property going to be a LEMON?

 

Of course the agent told you it would increase in value...........

Gaythorne is a small pocket between Enoggera and Mitchelton, where the Army Barracks is located. It is close to the CBD, good shopping centres, nice private schools and the train takes about 15 minutes to get into the city. Not too far from QUT. You would think it is gold.

Unfortunately it is also swamped with units. Can you tell us what is so good or not good about your unit and we can tell you whether it is a likely to be a keeper or not? There are quite nice units there and others that are not as nice. Is it on the busy main road or a quiet street? You can PM me privately if you like and I'll look at it online.

 

With all due respect to both yourself and other members (myself included) you are probably on the wrong forum and asking the wrong questions.

Without knowing your personal situation, goals, finances, plans, strategy etc it is almost impossible to provide any input on whether you should keep something or sell it based on the property alone. A better question may be "what are some of the considerations when making this decision?" At least then you can take those considerations and apply them to your own circumstances. You are simply asking people to speculate for you, which it seems may have been a part of the problem when you purchased it.

Even if you were asking the right questions, property management (this forum) and property investment are not the same thing. They have a functional and practical link, but are very different in terms of knowledge and skill sets required.

- Luke

 

On a rentals note the market will start to increase over the next 12 months, we have seen reductions in rent but this is due to change.

 

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I am no expert, but I have bought property in Brisbane for over 30 years. Nice area, but I don't think townhouses or units will do well in the near future. I would sell it and buy a house, but I don't know your situation. I bought a unit in Ascot many years ago (blue chip area in Brisbane), would never buy a unit or townhouse again. For around the $500K I would be looking at a house around Ferny Hills, Arana Hills- a bit further out. If you could get into a house in The Gap in the $500Ks (people want to be in The Gap school catchment) that would be a good buy. You need to look at how units have performed historically in the area Gaythorne Property Market, House Prices, Suburb Profile & Investment Data