Sould I sell

[spanna]

I have an IP in Adelaide Suburb of Edwardstown. I bought the property for 410K in 2008. Its a 3x2 very similar to this http://www.magainagain.com.au/index...2&searchtype=ressale&type=&propertyid=6742340

Currently its rented for 380pw
I'm in 2 minds weather or not to sell it! hindsight is a great thing, i call this property a learning experience!

I feel like i should cut my losses and move onto something i can manufacture growth with, however the other side is this property has only gone up say 25% in 6 years. the next 4 must hold some "catchup" growth?

What would you do?

Cheers

 

[see_change]

I have an IP in Adelaide Suburb of Edwardstown. I bought the property for 410K in 2008. Its a 3x2 very similar to this http://www.magainagain.com.au/index...2&searchtype=ressale&type=&propertyid=6742340

Currently its rented for 380pw
I'm in 2 minds weather or not to sell it! hindsight is a great thing, i call this property a learning experience!

I feel like i should cut my losses and move onto something i can manufacture growth with, however the other side is this property has only gone up say 25% in 6 years. the next 4 must hold some "catchup" growth?

What would you do?

Cheers

Adelaide seems to be on the radar for those looking to buy so there is an expectation it might outperform in the next years .

If I was looking to buy at the moment , it's some where I'd look . All the Adelaide groupies , Brady etc seem fairly optimistic .

25 % in a flat market is ok . Our current PPOR did nothin for 6-7 years , but has gone up around 20% in last year .

First house we bought did nothing for the seven years we held it ( PPOR ) .

Cliff

 

[thatbum]

I feel like i should cut my losses and move onto something i can manufacture growth with, however the other side is this property has only gone up say 25% in 6 years. the next 4 must hold some "catchup" growth?

What would you do?

Cheers

Historical growth rates don't have much correlation to future growth rates imo.

What other factors have you looked into when trying to decide what growth might be on the cards?

If the answer is "not much else", then its worth doing a bit more research before making a decision I think.

 

[spanna]

Thanks for the reply's guys.... As far as future growth prospects go, I like the Suburb, its fairly central. good access to city via rail and south road, pretty close to large shopping center, and not to far from the beach. I just bought the wrong type of property!

Downsides for growth is there are a lot of older houses that can easily be knocked down and subdivided. I just cant see that type of house being worth much more than 500K considering what is selling around it.

Cheers