What to do with property money....?

Question

I have a property in East london that has made about 30K profit. i also have an apartment in Melbourne Australia with about 110-120K (aus) left to pay on the mortgage. with the currency rates as they are the profit from my London place would fully pay off the Australian property. I would then by a place outside london for a lesser price and have about the same size mortgage in the UK as before. Is this the best thing to do or should I keep paying both mortgages but get a bigger UK place? Is there something I haven't considered?

Answer 1

Go for the payoff, then buy a place outside london.

Answer 2

Do it !