Who is Selling

I think

I know. Great for sellers, not so great for buyers.

 

I would expect Canberra to suffer later as the government finds ways to cut the budget with large job losses similar to when Howard took the axe in 1995. Canberra prices (and the coast around Batemans Bay) took an awful battering. 10-15% is just a scratch.

 

Hopefully I can wait that long.

 

Is anyone selling now that were open?

 

Yes, I'm selling in the Brisbane market at present.

 

I will be engaging an agent to sell a 3 bedroom townhouse in Richmond St Leederville (WA) next month. It has been a great investment but now time to move it on.

 

Any yield, capital gain details please, if you are happy to share?

 

Current tenant paying $510pw but has been up to $620pw several years back. Has always rented quickly as it is in a prime spot close to cafe strip, transport etc.

I'm not sure what it will sell for but previous sales of similar properties in the complex were $710k and $670k (last one involved no agent, as it was sold to an existing owner).

There has been zero capital growth in the last 8 years (like many properties in Perth) but over the entire time I have held the property the average capital growth equates to 5.2% pa.

 

Sure, it's Mount Gravatt general area. Sale campaign isn't going so great but it's less so the market as the reason for this and more so to do with the tenant making access difficult and not presenting the property so well during inspections etc. Apparently the market is very hot there otherwise.

 

You may need to revise your forecast as one of the largest federal agencies is undertaking the largest ever graduate recruitment drive in its history of 500 in early 2021 along with increased promotions to attract top tier talent. More to follow.

 

Just sold Brisbane. Settles in a month. If it falls through for any reason, cash offer, but if there sale falls through for their house....I would rent it for a year and then sell. Rent has gone up, interest rates down, it would be cashflow positive to hold.

 

So, I'm locked in a mental battle right now to sell or hold a house in the M Druitt Area (desirable pocket south of the train line...not Tregear, Bidwill etc).

Offer is on the table and either I run with it, or wait. Incredibly hard to gauge where the market is heading with some projecting another 10%, some saying much much more. In the end, most of these forecasters are wrong.

Offer is pretty fair in this market - not high not low.

 

Do you have to sell????

If not I would take a punt and review in 12 months. This is a government engineered boom.
So question is will they commit political suicide ??

 

I probably do but its not urgent. I could wait 12 months.

 

Yep. At least 2 in 2021.
Pay off debt, hoard cash, Balnea Vina Venus.

 

Depending on your situation you can always fish for a really great ( but not miracle great) offer and then sell. This way you may miss out on less of the future growth, if that makes sense. I was recently lucky enough to have something like this work.

Whatever you do, try to avoid selling from a place of fear and holding too long from greed.

 

I feel optimistic on Sydney, and I can only think houses in Western Sydney will keep rising for a while.
No crystal ball though.

 

I hope so. I'd love to sell some in Quakers Hill which are showing crazy prices now but need to wait till NFY. Sigh

 

MAYBE

the regulations around re-development are becoming less tangible
nearby properties are getting silly prices ( imo )

list now and buy in the share-market dip MIGHT be a big short time winner ( at at 65 years old , i am not planning to live another 50 years )

but am still deciding and researching