kincella,
I bought in 2001- strong growth about 40-50% through to 2003, then went down in value, then up in value and now back down again. Overall, 50% gain over 8 years, but all of this occurred in the first two years. Has been flat since 2003.
This is Sydney, obviously other markets have different growth profiles. So you can find a house at 2003 prices - mine........
