It is probably not a good time to sell. If you can hold off selling, then that is probably wise. (I guess that the market will, at worst, be flat.) However, if you may be forced into selling sometime in 2012, such as due to loss of a job, divorce, financial difficulties, or a forced move, then it is probably best to sell as soon as possible so that you are not a distressed seller.
If you are buying, there is plenty of choice. But only buy if you plan to hold for the long term. I think it is better buying an established apartment than buying off-the-plan, at least in Brisbane. (The Gold Coast is a different story.)
Rents are unlikely to fall. Body corporate levies are unlike to decrease. Who knows what interest rates will do.
I may buy in the next 6 months, but only if the price is extremely competitive or the property is extremely unique. I doubt that I will buy off-the-plan this year.
Two books to assist you:
- Buying An Apartment Off The Plan in Queensland - A Guide For Successful Buying
- Investing in Brisbane Apartments