what the FHB poster should have been doing, when considering his...

what the FHB poster should have been doing, when considering his position, whether to rent or buy....
is to do the research...not ask HC posters

he will find this most interesting ...just for a start.
look at the 2nd graph, annual house prices...
prices for houses doubled in 2 years, from 2002 to 2004...whow...200 to 400ks, then stayed flat to 2006, peaked in 2008 (full on gfc period)and is currently 472,000
sounds like a normal aussie suburb, with normal growth over a 5-10 year period....it will not revert back to 2002 prices...
buying a home is like a forced saving plan....and it is a great idea, so practice your saving for the next 6 months, put away the equivalent of $600 per week, less your current rent....see how dedicated you are, if you can keep a promise to yourself...
when the time comes, add the balance of your car loan, to the home loan...or wipe out the car loan, but continue with your deposit savings plan...

there are sites that provide the demography of the suburb, with all the relevant information....
do all the research you can...usually family and friends
are a good source unless, they are from a renter family background, with litle or no experience in home owning
cheers

http://www.rs.realestate.com.au/cgi-bin/rsearch?a=sp&s=qld&u=ormeau