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I'm of the opinion that even though the market is overvalued as you've said, the rental price correction, if any, will occur by....next March (my prediction). Unfortunately, prices in Brisbane will not drop, so get in as early as you can for CG...yeah, crap for cf+, but hopefully the correction...

Now, thats risky.... I just bought a house for 390K, am happy with price, but it is really really going nuts on the northside at least...and my dump in kingston is probably around 300K atm...which is just weird...:o