Melbourne will take off before Sydney but Melbourne won't happen...

Melbourne will take off before Sydney but Melbourne won't happen until 2009 - 2010.

Melbourne will hit bottom in 2007 (probably early) so anytime in late 2007, early 2008 will seem like a bargain once 2009-10 hits.

Watch the vacancy rates, watch the rental returns, they are your triggers.

When the first bunch of high-rises start getting financial backing you may want to play the 10% down game and sell before completion, there's a dollar in that of you time it right.