PHOTO: Allan Smith 

Allan Smith, a Queensland corporate accountant, is selling the investment property he bought 10 years ago because he is “tired of losing money” and wants to get out before there is a market crash.

Mr Smith’s three-bedroom townhouse in Helensvale, north of the Gold Coast, cost him about $300,000 and has returned only about 20 per cent in capital growth, or about 2 per cent a year, which is less then he could have made on a fixed-term deposit.

The property has been no problem to rent but income did not cover total costs and has been negatively geared.