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I cashed out of a place just outside Canberra, cleared all my...

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MTX2000

1,994 Posts.

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09/12/21

18:29

Post #: 58196438
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Originally posted by Dave R: ↑

Here in Innisfail FNQ there were lots of cheap houses on the market for years. By cheap I mean in the $100k to $200k range. Also cheap blocks of flats and commercial buildings.
Then out of the blue beginning about two months ago they all started selling. A real estate agent I know who usually only sells about one property a month told me she sold fourteen in November. So there are now no cheap houses left and the flats and commercial properties are gone too, along with some of the more expensive properties. And values and rents are rising fast.
It's crazy really, and it's southerners doing most of the buying sometimes without even an inspection.
Of the seven places that were for sale, some for several years, along the road I live in six sold in the past few weeks.

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I cashed out of a place just outside Canberra, cleared all my debt and purchased a cheap house in SE QLD which I am now getting a good rental return on while I renovate.

Tradies have seen the place more often than I have.

Will move in when I retire completely.

Last edited by MTX2000: 09/12/21
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