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Thanks Alexee. Your point makes a lot of sense. However, I'm not absolutely confident that my cashflow positive/neutral investment properties (outer suburbs and regional areas) would get the same rate of capital gain as Kensington (inner suburb of Melbourne).

Quote: So with that already in the background i reckon you are better off going for the kill and buying as good as you can get in Kensington. Buy something that you can renovate down the track - once your other properties double in value you can access equit or sell down Thanks...

I am basically in this situation right now and cant make up my mind what to do. I recently sold my PPOR in Pt Cook and decided to rent for a year to try out living in Kensington. I am paying off two IPs worth about $240K each (Werribee and Bendigo). I can afford to borrow enough for another...