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10 cities where you shouldn’t sell your property in 2020
Property investors who have assets in a number of Australian locations will be the long-term winners in the Australian real estate market if they choose to stay invested in those areas – staving off the temptation to sell up in 2020, according to a property expert.
10 cities where you shouldn’t sell your property in 2020
Property investors who have assets in a number of Australian locations will be the long-term winners in the Australian real estate market if they choose to stay invested in those areas – staving off the temptation to sell up in 2020, according to a property expert.
Property Club president Kevin Young has outlined that in his experience, sellers regret is a common issue in the Australian property market, saying that owners often regret selling their properties too early ahead of a major bounce in their local real estate market.
“Research shows that houses that sold for a profit are typically held for 10 years and units 8.8 years,” Mr Young said.
In contrast, he said house owners that sold at a loss typically held their property for just 5.8 years, with units selling at a loss held for 5.7 years on average.
“Investors had a greater likelihood of reselling their properties at a loss compared to owner-occupiers, with 11.3 per cent of owner-occupied properties resold at a loss compared to 17.4 per cent of investment properties,” he continued.
The president said there’s also a very high proportion of property owners who sell their properties two years short of a bounce to profitability, according to Property Club’s own research.
He emphasised it as “therefore critical that property owners who are considering exiting the property market and selling their properties do not do so in markets that are at the bottom of their property cycle or in recovery mode”.
To highlight his point, Mr Young has compiled a list of Australia’s top 10 markets where you shouldn’t sell in 2020.
Here they are:
10. Darwin
9. Perth
8. Adelaide
7. Sydney
6. Melbourne
5. Newcastle
4. Ipswich
3. Townsville
2. Gold Coast
1. Brisbane
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