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can I ask why you would be reserved about Brisbane long term? Sure its currently nowhere near Melbourne in terms of non-mining economic strength, but its catching up, whilst still having the large amounts of mining and resources [ commodity prices are currently low but eventually the cycle will...

I would think a bit different: Both Melbourne and Brisbane for moderate and steady growth and best long term prospects. Sydney for fast cash , as id think there is about 12-18 months left in that boom.