Renting is a great hedge at the moment if you are looking to buy. You are unlikely to 'miss out' as prices have been falling for almost a year, and will probably keep falling.
You're probably saving in the hundreds per week by letting the price of your eventual home be eaten away by declines and inflation. Maybe even by enough to effectively conclude you are renting for free.
Sit back, enjoy the show, let the landlord pay the interest only loan and the rates and maintenance and lose the capital at the same time.
