To Sell or to Keep?

[Moorf]

Greetings all from New Zealand....

I emigrated here in Sept 04 and kept one property in Sussex which I have rented out for several years. Stay with me.. this IS relevant!

Basically, I have a mortgage of £50k on a flat valued at £95k.

I rent it out for £500 a month. The mortgage and maintenance totals £320.

My question is - do I sell up now and take the profit of £45k - or do I continue to rent? i.e. am I going to have problems with the value of the property falling which would , in turn (I assume), also mean less people looking to rent as first time buyers are more able to get onto the property ladder.

I'm by no means a professional landlord, but thought I'd try posting here to see if any of you guys could give me your thoughts...

Thanks
Moorf
NZ

[Jennifer_M]

If you want it long term I would say don't sell as property price always go up eventually.

Even if they go down for a year or two, they will go back up and over the current prices.