gotta agree with blueballs.If the property purchase is for a family or personal reasons,one buys ,lives and enjoys building a lovely home.As for investment property,I am more inclined to small,undervalued commercial property in up and coming areas.My partner(business) and I have done well out of Surry Hills in Sydney,but we actually operate the business that in turn pays us rent.I just sold my residential investment up on the northern beaches of Sydney,having recently grabbed a neat rear lane access terrace in Surry Hills for the family.I think any type of decent property in a good area within 2-3km's of the city will keep its value better in the next few years.The new oil prices will take 6-12 months to work in to the budgets of everything.Until such time....Pain. Wait till the credit crisis weens through.I goota feeling there is more pain to come in terms of indepedant bank rate rises.Even if the RBA drops back to 6%....SO WHAT.That might take the variable position back to 8.3%.Any one notice the banks are changing the goal posts in terms of the minimum ammount needed to be borrowed to qualify for the .07% discount.At the commonwealth,its over 750k. I think you should have it at bank west 8.15% at call and keep working hard and wait for the air to clear,or by a family home.
