The Sydney property investor who sold up before house prices fall

Blacktown train guard John Okroglic, 40, is one Sydney property investor who believes he sold his investment property at the right time, as house prices in the city fall.

Mr Okroglic sold his apartment on Elouera Road in Cronulla in November for $720,000, a property he bought for $345,000 just 15 years ago.

"I think we hit the peak, simple as that," he said.

"You sell at a high and buy at a low, you're not going to hold something that's not making you money."

Just one month since the sale, Mr Okroglic thinks if he waited any longer, he would have received $50,000 less.

"There's one place in Cronulla it went for $640,000 two, three weeks ago ... my agent saw it and he said, 'How did he only get that much when yours was not nearly as good?'

"So I'm very lucky, I'm very happy."

Mr Okroglic lives with his family at his parents' house in Blacktown, and owns another investment property next door, which he hopes to expand and eventually move in to.

"I'm waiting for more [people] to sell up around me, that's my strategy," he said.

"I'm not buying now at the top of the market, absolutely."

Mr Okroglic said he always felt the Sydney housing bubble would not last.

"Wages haven't kept up with this nonsense, as I call it. Something is going to give eventually, and I'm sorry to say this, but I think there's going to be a lot of carnage later on," he said.

This story The Sydney property investor who sold up before house prices fall first appeared on The Sydney Morning Herald.