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I agree feihong. Your comment reminds me of Steve Navra's theory called 'Rental Reality'. It would be very interesting to apply it to Melbourne, I think there is something in it. From memory it measures the current rent vs the last 5 years average rent and works off the premise that people...

I'm keen to hear on others views on Melbourne 1-3 and 3-5 year views. HTW put Melbourne Houses and Units at 'Bottom of market / Start of recovery'. Do we think the next upswing will start with the inner burbs again? Inner has been pretty flat overall for the last 4-ish years.