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A friend of mine tried to sell his Ringwood house in mid 2008. You could hear the chirping crickets at the auction, comments on the vendors bids were along the lines of, "They're dreamn'". The general Melbourne market got overheated and peaked in 2010, they would have gotten 40% more had they...

My hands on memory only goes back to 1997. In that time I think I've seen about 4 market cycles in Melbourne. This isn't the first time houses have been moving faster than you can blink, it won't be the last. Had you been looking in 2011, you might have been the only one going through the...