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haha, thats what getting a job with the Department of Housing two weeks ago will do :) I honestly think that this whole "foreign investor" thing is because the $300k limit on the price of a house that the permanent residents and 12 month+ visa holders are allowed to purchase has been lifted...

If I was a young person starting out (as a couple), I would probably try to get together with another couple and buy a modestly priced 3 beddie in an ok but nothing special area. Then we could live togher for a couple of years (renovating the house as much as possible using our own labour) till...

Interesting, it must be a new property as foreign nationals cant buy anything but new property. Persons with at least a 12 month visa can buy established property but only if they live in it.