Question on Sunshine coast townhouse

Discussion in 'Property Market Economics' started by jamie87, 23rd Jun, 2017.

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  1. jamie87

    jamie87 Member

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    sydney
    Hi guys,

    Could you please help me with this question.

    I own a 1 year old 3 bedroom townhouse in Brightwater sunshine coast QLD. Recently there has been some new “ high spec” townhouses built and sold for 75k more than I paid for mine...

    My question is, should these high recent sales be pushing up the median price for 3 bedroom townhouses and dragging the value of mine up?
    Should I go NOW to do a re-val, and equity release and leave funds in a LOC to buy my next property ?

    Reason for the urgency is, I know valuer’s use the last 3- 6 months sales as comps, and My concern is, once there more expensive homes sell, and the cheaper ones start to sell again, this will drag down the median so I wont be able to extract as much equity..

    Am i right in my thinking?

    I appreciate any responses,

    Cheers
     
  2. Marg4000

    Marg4000 Well-Known Member

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    Just because some new townhouses are selling for a certain price does not mean that every townhouse is worth that amount. Sometimes it has the opposite effect, if the demand is for the brand new shiny ones.
    Marg
     
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  3. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    which lender is it with?

    Depending on the lender - it might not hurt to order a full val now.

    Cheers

    Jamie
     
  4. big max

    big max Well-Known Member

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    I would say, in general, everywhere on Sunshine Coast should perform well next few years. As always location is absolutely key.
     
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  5. jamie87

    jamie87 Member

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    Hi Jamie,

    I'm with CBA,

    cheers
     
  6. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Ok - you could order an upfront valuation now.....but I'm not entirely sure how long the results will linger in the system for before you can order another.

    Cheers

    Jamie
     
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  7. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Hope you're right! I've just bought in Noosa.

    Cheers

    Jamie
     
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  8. big max

    big max Well-Known Member

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    Nice. You will do fine. Based on prior cycles we have had Sydney slows and then people start looking to lifestyle locations. Rich and older retiring folks will be entering Noosa again ...
     
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  9. jamie87

    jamie87 Member

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    ok Ill look into the Val.... Thanks guys