Too true!
We started our current PPOR in Brisbane having relocated here with work. We held our three properties in our development in Mona Vale because we were scared we'd be priced out of the Sydney market if we ever wanted to return home to Sydney.
As it turns out, our new PPOR in Brisbane is in a great location in a postcode that is really starting to wake up now. 2 years ago it would have been worth $850K odd finished. The latest valuations say this could be closer to $1.3M now. We never suspected Brisbane would be this lucrative!!
I guess it bears out the adage of the importance of diversification. We're watching our Sydney properties boom and already starting to feel the beginnings of the Brisbane cycle now too. I think we'll sit back and focus on debt reduction for a while and let this cycle play out nationally. We'll start looking again in about 5 years time from a strong equity and cash flow position when everyone is then talking doom and gloom after its peaked and fallen 10% like that's a bad thing...
Sell when others are buying, buy when others are selling. Just gonna strap in for the ride for a while now that we've got good assets in place already.
Cheers,
Michael