Question on Sunshine coast townhouse

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

 

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

 

which lender is it with?

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

Cheers

Jamie

 

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

 

Hi Jamie,

I'm with CBA,

cheers

 

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

 

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

Cheers

Jamie

 

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 ...

 

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