Hi All,
I am at the crossroads. Need some advice please. I have had a property at Douglas in Townsville for past 7 years. It is a really nice 4 bedroom house, former DHA , well maintained on a nice 650sm block. I bought it for $ 400K and I reckon I would be lucky to get $420K now. I have held it in the hope that it would bounce back to the boom period 2006-2007. ( yep, I bought at the top of the boom argh ). My rent has dropped from a high of $420 to $360 currently but I have had Zero vacancy.
Can anyone see Townsville picking up enough for me to continue to hold this property ? It is negative geared and I need to work our what I should do moving forward.
Do I bite the bullet and offload it and try another location, possibly Adelaide ?
The latest CG predications for Doulas QLD is :
Any advice is always appreciated.....
I am at the crossroads. Need some advice please. I have had a property at Douglas in Townsville for past 7 years. It is a really nice 4 bedroom house, former DHA , well maintained on a nice 650sm block. I bought it for $ 400K and I reckon I would be lucky to get $420K now. I have held it in the hope that it would bounce back to the boom period 2006-2007. ( yep, I bought at the top of the boom argh ). My rent has dropped from a high of $420 to $360 currently but I have had Zero vacancy.
Can anyone see Townsville picking up enough for me to continue to hold this property ? It is negative geared and I need to work our what I should do moving forward.
Do I bite the bullet and offload it and try another location, possibly Adelaide ?
The latest CG predications for Doulas QLD is :
- Median price
- $397,000
- Quarterly growth
- -0.50%
- 12-month growth
- 0.51%
- 3-year growth
- 2.45%
- 5-year growth
- -2.82%
- Average Annual Growth
- 4.00%
- Weekly median advertised rent
- $390
- Number of sales
- 120
- Gross rental yield
- 5.11%
- Days on market
- 70.99
Any advice is always appreciated.....
Selling Townsville buying Adelaide
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