Brisbane Northwest Market - Sell Now or Wait

Hi all, we're looking to sell our property in Brisbane and are trying to get a better understanding of the market.

We're doing our own research, but we'd love to hear your thoughts on whether we should sell now or wait an extra year or two, especially with the Olympics around the corner.

A major attraction of selling now is that it would allow us to substantially pay down our PPOR mortgage. The property has also had a long term tenant who will be vacating soon, so we're exploring all our options.

TIA

Comments

  • +5

    Caressing my crystal ball to get you an answer.
    Please stand by.

    • Did you finish? Caressing your ball, I mean.

      • nah will let you know in a year or two

        • Playing the long game, nice.

  • What suburb?

  • +3

    Hodl

  • Personally I think the market will continue to increase in price over the next year and unlikely to drop.

  • Sell without tenant.

  • Look back at past sales. Is there a best time to sell? What about the property itself, does it have gardens or outdoor spaces that lend to selling in spring/summer? Is the rental positively or negatively geared, and how will that affect you tax-wise?

    Lots of variables to consider.

  • +1

    wait until october 1st for the flood of first home buyers to pump up the market!

  • +1

    Speak to your accountant. It will depend on where the depreciation schedules are, what tax will be payable on sale, what you intend to do with proceeds, etc. I can't see how reducing your PPOR mortgage will be of any benefit to you, it is typically the best value finance you can get and other investments should be easily outperforming mortgage interest rates right now even accounting for tax.

  • You could put future tenants on 1 year leases and decide year by year.

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