Yes. If they could only sell it for 310k at the moment they would be giving the new owner a rental yeild of 6.8% when the average apartment in aus gets around 5%. What would they do with the profit? Pay the tax man and agent fees and put the remainder in cash getting around 6% which is less than the property is achieving.
This family has purchased an asset and in three years managed to get it to be positively geared. The yield on their orginal purchase of 260k is now 8.2%.
Never sell an asset which costs you nothing and continues to generate cash.
