If in doubt a crash is imminent check this out!!, page-18

All4One,

It is unit-central here too. You can't drive for more than a minute without seeing a new one that is going up. Units blocks have always been around, but over the last 5-10 years they have multiplied like rabbits - far in excess of the increase in population growth.

They have become 'trendy' for a multitude of reasons. Take your pick. High property prices, glossy brochures, unscrupulous property developers and realestate agents, TV programs like The Block, a history of always going up, highly attractive borrowing terms etc.

The one thing buyers cannot escape is that units are built by developers to make a profit. Therefore, not only are buyers covering the cost of building, but they are are also paying a premium to the developer, aswell as any other profit seeking entity involved in the build.

That is fine if you plan to live in the unit yourself, because hopefully you can extract full value out of the property, far in excess of what you paid for it. However, alot of the people buying units already have a place to live and are buying in excess of their needs - expecting to rent it out.

The idea is that you get tenants to support and pay for your early retirement. The problem is, you just cannot manufacture a whole lot of product, push it out into the market, and expect consumers to mop it at an ever increasing price. Rather, you get a glut, which is what we have now.

Good luck on the property search.