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Pieman, just curious, are there many good opportunities in the better suburbs in Melbourne? It strikes me that there's been a prolonged housing boom, and that the easy pickings will have been mopped up years ago. Though I accept that there might be some interesting developments on tricky...

Blaster, surely you've answered your own question. If you assume that property prices are cyclical, and that they are currently extremely high on virtually any metric (rental yield, absolute cost, price compared to income) that you can think of, then the logical conclusion is that they'll...