Time to sell???

Viewing 8 posts - 1 through 8 (of 8 total)

watsonc
Member
@watsonc
Join Date: 2010
Post Count: 7
May 4, 2010 - 4:07 am
I own an apartment in Surry Hills located very close to Hyde Park Sydney. Purchased 2 years ago for $335k….after some recent research I'm led to believe I could now sell for $400k plus. Very limited stock for sale, similar but smaller apartment than mine across the road selling for $405k.
Steve McKnight does mention that property only goes up in value for 30% of the time. Have we just had the 30% timeframe of upswing???
Is it time to sell???
watsonc
Member
@watsonc
Join Date: 2010
Post Count: 7
May 4, 2010 - 6:11 am
I guess what I'm asking: is the property market about to flatline for the next several years???
The days of cheap money are now gone.
blackhotel
Participant
@blackhotel
Join Date: 2010
Post Count: 140
May 4, 2010 - 7:49 am
NSW has been flatline since 2004.It is due for a huge increase in properties (Sydney that is). I reckon properties will increase 15-20% in the next 2-3 years. 7% interest is still very very cheap money.
god_of_money
Participant
@god_of_money
Join Date: 2008
Post Count: 970
May 4, 2010 - 8:04 am
SELLL SELLL SELL
BUYYY BUYYY BUYYY
It is all media propaganda
Paul Dobson
Participant
@pauldobson
Join Date: 2003
Post Count: 1,196
May 7, 2010 - 12:10 am
Hi Watsonc
Why not use the increased equity in this property as a deposit on an investment property?
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone Me
An alternative way to finance your home.
djjk
Participant
@djjk
Join Date: 2010
Post Count: 87
May 13, 2010 - 8:20 am
I think we are due for a flatline but I doubt we will see a significant drop in Sydney as demand is too strong.
Also, what do you mean about property only goes up 30% of the time? This doesnt make sense to me thats all!
watsonc
Member
@watsonc
Join Date: 2010
Post Count: 7
May 17, 2010 - 8:19 am
The property market doesn't always go up….it also flat lines or even falls. Steve McKnight's book (0 to 260) assumes in general that property goes up in value around 30% of the time.
At this stage I've decided to hold a little longer. Think there is a tiny bit more growth to come.
MTR
Participant
@marisa
Join Date: 2004
Post Count: 663
May 18, 2010 - 7:41 am
watsonc wrote:
I own an apartment in Surry Hills located very close to Hyde Park Sydney. Purchased 2 years ago for $335k….after some recent research I'm led to believe I could now sell for $400k plus. Very limited stock for sale, similar but smaller apartment than mine across the road selling for $405k.
Steve McKnight does mention that property only goes up in value for 30% of the time. Have we just had the 30% timeframe of upswing???
Is it time to sell???
How much we you really make after CGT? I would access equity from the property if that is possible.
I am accumulating property in Syd as I personally beleive the Syd market has a long way to go, IR are still low.