where and when

Its seems that the only thing everyone here agrees on is that there is good or will be good buying in property. I'd like see some discussion on when where and why.

I'll kick off by saying Tootgarook on the mornington peninsula (vic). Its the only place, besides Dromania, from melb to Portsea that you can still buy a house on a nice flat block within a short walk to the beach under $300k. I was talking to an agent the other day and he thinks he could find me somthing within 300 meters of the beach around the 250k or less mark. Mite need some minor work before renting it for around $250+ /week. Its not what this area has that I like but what it doesn't have. No pubs or nite spots to attract the drunks and a lack of carparking so the beaches can't get over run with day trippers. There's already been some big houses go up on the Hwy that will help lift the status of the area.

Like most people I have no idea where this will go short term but I see great potential in the long run. Like they say, land is something they're not making any more of and its already in very short supply close to the bay.

Would love to here some thoughts on this and other ideas.