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David, Today's super-sized mortgage is tomorrow's prized investment. The more you have to "fight" for them , the more the capital gain. LL

LAAussie..The media and REAS are probably "guilty as charged" in this area. But the banks tend to be more balanced and analytical ( ..hmm..did I really say that :confused: ) You may like to take a read of the ANZ April Property Snapshot. Give or take 12 months or so it seems to me Melbourne is...

Cosy, I always get worried when they don't show a "main front shot" . Something wrong ...... LL

pski, A classic Victorian in Kensington with OSP.... Don't go to the game without $600K in your pocket. :) LL

It's a classic "ripple" effect starting near the CBD (even well reported in the press) and it will move outwards over the next two or so years. But by then it's too late. We're buying Melbourne now ...and I don't mind if I'm a bit early as vacancies are tight and rents are on the rise. :) LL

With associates we've bought five IPs ( houses on largish lots with future potential) in Melbourne "middle ring" Eastern suburbs in last month or so, and the competition is just "red hot". Lot's of people at opens. Lot's of offers. It's definitely moving IMHO. LL