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I agree Pickle...you definitely need to have an interest/financing buffer and 10% would appear prudent at this current time. The banks would already apply a couple of % basis points on their 'assessment' rate though, but yeah, you need to make sure you can deal with the most extreme circumstances.

Hey, first of all, welcome to SS. I just had a look at that Kerferd Street unit and to be honest, I am not surprised it reached the $700K's. Firstly, it is in Malvern East, a solid suburb. Secondly, Kerferd St is such a beautiful tree lined street with nice wide nature strips and thirdly...