Brisbane- Sell now to Rent?

Discussion in 'The Buying/Selling Process' started by MudHoney, 1st Nov, 2013.

  1. MudHoney

    MudHoney Member

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    Hi I'm new here so go easy on me :) In fact it's my first ever forum post of any forum. My wife and I recently went unconditional on a contract for sale of our house in a Brisbane suburb. I've had a lot of friends and work colleagues telling me now is the wrong time to rent and we should look to purchase another PPOR or at the very least an investment property as the property market is about to boom in Brisbane. I know it's hard to predict either way on this, but is their perhaps some truth to the speculation? I wanted to hear some opinions from people in the know.
     
  2. wylie

    wylie Member

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    Welcome to the forum :).

    I think the market is changing. Whether it will "boom" or simply catch up from the falls it suffered after the GFC is a question I wish I knew.

    Can I ask what was the reason you have sold your house? What was your plan?
     
  3. Snoopy

    Snoopy Member

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    Hi - since you have sold your hour house, hopefully you have some equity. Buying a PPOR will ensure that if prices increase in the long run you have not missed out. The rental yield on Brisbane properties seem fairly good; not buying now is a gamble.

    Obviously prices could also fall but i think it is more of a gamble to not buy. Also depends on many personal circumstances; jobs, financial commitments etc but i have assumed you were not forced to sell and can buy if you choose.
     
  4. russellpeter

    russellpeter Member

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    we are finding the market is hotting up in Brisbane with a lot more buyers through our opens. great if you are looking to sell more competitiveness
    if you are looking to get back into the market.with more buyers normally the market price will increase.

    from the rental side we are talking to a lot more investors that are adding properties to there portfolios. our biggest growth where we are finding this happening are Ipswich, and Logan areas cheap properties with decent rental returns.
     
  5. MudHoney

    MudHoney Member

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    Thanks wylie, we've sold now for a couple of reasons - My wife and I both work inner city (RBWH and CBD), and our children are going to daycare and will go to school in the suburb we wish to either rent or buy in (Grange, Wilston, Newmarket). Our reasons for renting are also for a couple of reasons - to ensure we've got time to look and we're not jumping into a purchase of a home we don't want to live in for a very long time, and we wanted to take some financial pressure off until my wife returns to work fulltime (from part time) in a year or so.
     
  6. MudHoney

    MudHoney Member

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    Thanks Snoopy, yes we'll have around 140,000 equity. Appreciate the post.