- by Tim Nimmo
What do you do when your average home is suddenly worth over million dollars? You can always sell up and take your money to places where you can get more for it, introducing Sydney’s exodus…
The astronomical rise in Sydney’s housing crisis and the stress it places on new and would be home owners has been a hot topic of discussion across television and newspapers for many years now. While many are forced by sheer economic realities to rebuild their lives in more affordable areas, for others, the tremendous equity created by their Sydney-based family home has become a great opportunity. While this equity can be leveraged in different ways, and we’re naturally partial to putting it towards investment property in growing markets, one current trend is to simply sell up and in effect exchange a decent home in Sydney for a spectacular home in Queensland (or a similar home with a less hefty mortgage at the very least). Similar to past migrations experienced in the mid-80s and mid-2000s the number of Sydney residents making a city change towards the north is at around 134,000 over a three year period (see) and their estimated to be taking close to 8 billion dollars with them. So our question is to you:
- Have you found yourself wondering what life would be like without a giant mortgage to shoulder?
- Are you a would be home owner who is simply locked out of the Sydney market?
- Are you looking for ways to leverage significant equity in your family home?
If the exodus is looking like a potential reality for you then we are here to help. With extensive experience in the Queensland markets we have have an ear to the ground on current and future opportunities that are the product of much research, many professional relationships and a whole lot of travel. As buyers agents with time in the game we are poised to benefit both home owners and investors to make any up north travel both as straightforward and profitable as possible. Don’t hesitate to talk to us today on 1300 883 920.