melbourne house sales slump by 44 percent, page-13

No worries Molonski :)

Yes I agree with you again, we think the exact same way. It's the land where the value will come to fruition in the future, nothing else. Of course when the times comes in 12 months time, we'll be looking at all alternatives in that area and we'll do what's right for us, regardless if its her parents house etc. As we'll be living in it though initially, we'd want at least something liveable not an absolute dump, so we'll see what happens I guess.

Also, the way things are going with savings etc, we will most likely be able to buy a 2nd property around the same amount quite quickly. But I don't know whether to buy a 2nd property or sub-divide the first property and build at the back - these are the 2 options I'm toying with at the moment and I'm not sure as to which one is best.

Long term, I reckon having 2 properties with sub-division potential is best but it would also be nice to pretty much move into a nice Unit as well, dunno I guess we'll see what happens.

Been looking at property in Boronia and Bayswater as well, nice Houses on large allotmants for around $300k as well BUT it's obviously a lot further out to the CBD than St Albans :)

Where do you like Molonski, if you had some cash now and were in my position, where would you put some hard earned in (what areas)?