Unfortunately Mr Lunoon you took steve keens advice and sold out then prices rocketed 25%
Average melb metro price at the time was 450k now its 565k
Even if the property bears on this forum got their euphoric dose of a 15% drop you would still be behind from taking keens advise.
I would stop bowing the Keen as your god, if you want the security of ownership then buy, if you want cheaper living rent.
Our PPOR hasn't increased much since we purchased it 5 yrs ago (think 2% per year) but we really don't give a toss because we haven't been kicked out (peace of mind), we have a few dogs and cats (lifestyle choice).... you get some people posting articles about how much cheaper it is to rent then buy... well i reakon u also gotta put a price on the above things (lifestyle, security... not having to put up with inspections, being told to vacate in 2 months, not having things repaired by the LL, not being able to have pets, more freedom to do what ever i want to my property)
Do i personally think some places are overpriced? Yes i do... i went to a mates house a few weeks back.. the place was a dog box (3 bedder)in a suburban area he reakons agent valuation 550k.... no way i'd pay 550k for it.. more like under 400k
But i look at other places i personally feel offer decent value for the owner occupier and they are in the morgage belt
