Should I trade a PPOR in Sydney for an IP in QLD?

Currently have a 1 bed, 1 bathroom apartment and without a car space in the Macquarie Park development, Macquarie Park Village. Tossing up whether to sell it and purchase land in SEQ or to use it as collateral to finance the IP. I only have the one property in my portfolio so far. It was bought OTP for 550K in 2013 and settled this year. I'm planning to live in it for one more month then move back home as I can claim my FHOGS. Current val is around 700K tops.

Not too sure if there's going to be good growth in Sydney for apartments in areas such as Macquarie Park, where over 10000 units will be built in the next few years and the recent credit squeeze for overseas buyers from Asia.

Over 95% of my building are owned by investors from a Chinese background since there was an OTP sales frenzy on the launch day.

 

Depends on what you think and who you listen too or how you feel, I think Sydney has peaked for run of the mill stuff.

You have to work out what is best for you as you have all the costs etc

 

What would the Sydney apartment rent out for out of interest?