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I agree, which is why I suspect they may have been townhouses. The relative might not have spoken with much precision, and townhouses correlate plausibly with the financial figures stated, while houses don't. But I'm sure Deltaberry will correct me if I'm wrong soon enough.

I'm not who you replied to, but we're buying in Cairns and I could believe these figures if they relate to townhouses in the inner suburbs (which does fit the $250K/$175K equation). There are a lot of people in this area of the market who bought at peak (say 2010) who can't afford to sell...