Saturday, August 30, 2014

When should I buy? When should I sell?

The Brisbane inner city apartment market is somewhat strange at present.  Some points to note:
  • I mentioned in a recent post that there were fewer apartments listed for sale than in recent times.  That is the case for resales of existing apartments.
  • There is a large potential increase in the number of inner city apartments, due to a large number of high rise apartments being developed.
  • With spring, more apartment owners are likely to list their apartments for sale.
  • Rents are down, vacancy rates are up.
  • Sydney and Melbourne are or have boomed.  Brisbane has not.  It is still behind its peak 5 years ago.
  • Future capital growth is uncertain, but apartments are currently selling at good prices due to lack of stock available and low interest rates.
  • My prediction is that in 3 months time, prices will decrease slightly.  So now may be a good time to sell, but an uncertain time to buy.

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