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Just doing some research and found some great illustrations for this thread: Bought new in Dec 06 for $388k, now listed for $329k Bought new in Jun 07 for $691k, now listed for $590k Bought new in Feb 08 for $610k, now listed for $550k You could argue that this covers a period of...

I think they're two seperate issues; one is that there is government incentive to purchade a first home, the other is that off the plan properties are often not the wisest financial decision. Personally, I'd rather take that $50k of freebies and put it into something I have a little more...

Ok sure, there's an emotional element involved in this particular case and that changes the economics compared to a pure financial view.

To your first point, how on earth is the investment dropping in price for several years "not a real issue"? Why would you purchase with the full expectation of the price going down further in the near future? Regardless of intention to sell or not, I'd rather wait a little and pick it up at the...

I've had a lot of success buying off the buyers who bought off the plan! Massive drops in value due to (I suspect) having paid the "shiny and new" premium coupled with slick advertising which has likely fooled novice buyers. Do yourself a favour and have a critical look at what comparables are...