Hi only safe option is to sell IF he can get near the $326000 The rent he is receiving barely covers his mortgage so if there is no further CG he is not achieving anything
The Qld market is still falling regardless of what the "experts" want us to believe so the odds on prices increasing or decreasing are better with the decreasing.
You don't say what rent he is paying but the rentals have gone up so likewise I would expect that he is paying a higher rent than he is getting for his unit
I don't see any augment, if doesn't do anything he is betting his whole future on a boom in house prices!
Work in that area is also not booming so how secure is his job?
IMO if I was him and I could achieve a price of $326000 I would grab it and run
Don't rent forever but look around for a distressed sale and buy ASAP
