I have an Investment house in Bundamba near Ipswich which has lost value largely. Is it worth keeping, will it go up in 5 years or is it best to sell?
Hi Aiden, That is a hard question to answer without the crystal ball, what is your opinion of what may happen, and are you considering cutting your losses ? Cheers.
Ipswich has a history of going up and down a lot more with the cycle. I can remember $30k houses there when i was paying $170k in Brisbane, then they were $300k there and $400k in Brisbane. A mate of mine bought one out there for $70k, sold it 5 years later for $60k and then it sold for $300k a year or so later.
If you can hold it and you think there will be another upswing then you may want to wait to then. Unfortunately I do not follow the market out there so can't help.
D
RPI | Certus Legal Group / PRO Town Planners
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Hi,
According to realestate(dot)com(dot)au, the latest median prices for recently sold properties are:
– $380,000 for houses
– $265,000 for units
The demand is pretty high, figures showing that there are approximately 11 people looking per house within Bundamba.
Cheers,
Emil
Thanks alot. Yeah i live in Kalgoorlie so have no real knowledge of area, obviously a big mistake in the first place.
I have been wondering to hold on for 5 years or so or sell its a hard one because it is just not going up in value.
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