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Ok, all chest-beating aside (and apologies for a long post forth-coming)... Countrykid, we have our first IP in West Footscray. We moved to melbourne in early 1996, stayed with friends in Footscray. They'd bought their place a few months earlier, paid $95,000. A reno and about five years later...

hi Super Sam, it was the median house price, as outlined in the REIV's most recent quarterly figures - not sure if that takes in apartments as well. As to others ... can someone tell me if there's an ignore button on this forum. I really need to find it.:p

Research the area, which certainly has its good points and bad. Lots of flats to be had around the Vic Uni area - about $250k-$350k these days, depending on whether one bed or two. Seddon is nice too, and handier to the other Vic Uni campus. Two zone one stations, a tram, lots of good shopping...