$500/week on a $550k property (3 bedroom Terrace brand new with LUG + additional parking space). With rates at current levels that's not really an issue.
When I was looking at units in Cabra most were selling in the $400-450k range for a 2 bedroom place and would rent for $320-380/week.
Moot point I'll be an owner occupier but after our initial deposit it'll be cheaper to pay the mortgage than rent for us and we'll have an asset to show at the end of it. If we continue to pay the mortgage at the rate we are saving at it will be paid off in 8-10 years and then we are debt free.
Have to remember yields on all assets are low, cash you are getting maybe 3.5% return at best and then need to pay tax. Shares are paying reasonable return but many are copping capital losses if they bought in the banks prior to the recent hammering.
