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I agree with the market possibly going lower. It has now settled in at around the $850K mark based on land costs and building costs ATM. These costs are still at boom levels. The cost of tradies is still diabolical ATM up there. Once these reduced rents/wages/costs start to wash through...

The thing with the cost of property up there, there is the base cost to build a new 4x2. With land and build costs and then finishings, you'd be lucky to get away with change out of $850K. That pretty much sets the market ATM. Add in some profit, and new 4x2s are on the market for about...

Being in the market up there ATM I would not be buying at this stage. The vacancy rate is about 5-6% and that is definitely not a low vacancy rate. What was renting for $2500pw now goes for $1600pw. You might jag it and get a corporate tenant on a long term lease and get $2000pw, but I...