Hi all. Just need an opinion from people, expecially those who live and know the market in Geelong.
I have an investment property currently rented out to a family. It is a 4 bedroom 2 car garage 3 year old home in the Deakin University Estate Highton(the houses directly across the road from Deakin Uni in Waurn Ponds).
As I moved back to Melbourne 2 years ago, I am thinking whether I should sell the property or keep it as rental income?
Does anyone know whether the prices in that area of Highton (near the ring road) will rise? I have noticed prices have not moved much in that area of Geelong and think whether it is better to sell now and use the money for a property back here in Melb where the capital growth is higher. I just don't want to leave it too long as the prices in Melb are going up every week and want to get in ASAP, especially if the growth in that part of Highton is going to be very slow. As I also live so far away from Highton, it is hard for me to keep in touch of the property and have to fully rely on the agent.
What do you guys and gals think?
I have an investment property currently rented out to a family. It is a 4 bedroom 2 car garage 3 year old home in the Deakin University Estate Highton(the houses directly across the road from Deakin Uni in Waurn Ponds).
As I moved back to Melbourne 2 years ago, I am thinking whether I should sell the property or keep it as rental income?
Does anyone know whether the prices in that area of Highton (near the ring road) will rise? I have noticed prices have not moved much in that area of Geelong and think whether it is better to sell now and use the money for a property back here in Melb where the capital growth is higher. I just don't want to leave it too long as the prices in Melb are going up every week and want to get in ASAP, especially if the growth in that part of Highton is going to be very slow. As I also live so far away from Highton, it is hard for me to keep in touch of the property and have to fully rely on the agent.
What do you guys and gals think?