Buy or sell in Brisbane

Posted by char88can (308 days ago)

As offshore residents, we own a freehold property in the Brisbane southern area (Currumbin) which has increased in price since we bought it about 10 years ago. As we intended it as an investment, we were wondering whether we should realise profits and sell it, as prices have moved up quite substantially. It is a 3 bedroom townhouse in a good location. Would appreciate any advice on whether you think prices will continue to rise in the next few years in this state/location or should we sell, together with a good Australian exchange rate as well. We would also welcome any recommendations of real estate agents in this area if you have recently bought or sold a property.
THanks.

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Posted by dasia (304 days ago)

Do you own your property outright or are you still paying it off?

We also have property (townhouses) in Brisbane but have them negative geared and saving our tax credits for when:

1. we either want to sell and offset the tax credits against the capital gain or

2. we return to Australia for good and then offset the tax credits against any income we may have.

I don't know whether the market will continue to rise but don't think they will fall like they did in Sydney. The rents on our properties are increasing all the time.

Over the last four years the rent has doubled but we changed our mortgage to interest only to take advantage of the negative gearing benefits.