I meant [no. of investors / no. of those looking to buy a house (but are forced to rent by outrageous house prices)], my guess was this propotion is 1/5 i.e. 80% but it may even be more perhaps 1/7.

No, I am a fan of Chinese people. I believe China will overtake US very soon as the most respected country in the world. Read that they are building 200 new hi-tech cities in coming 20 years
Read here what China is capable of http://www.theage.com.au/business/cr...128-1a8b8.html

Oh dear. I think we have very different value systems. Human/Civil rights, Democracy, Tolerance, etc all score much higher for me than impressive economy stats.
Aus can certainly improve on its record (there is always room for improvement) but we are LIGHT YEARS ahead of China on those measurements. That is why I choose to live here.

The apartments are still being purchased for residential purposes, so I don't see the problem - foreign students are a cash cow for Melbourne's FE sector and the fees they or their families pay keep an overpriced roof over many melburnian heads.

House prices are high when the economy can withstand it; simple as that. Overseas earnings are part of the Australian economic picture, overseas ownership goes hand in hand with that.

I'm sorry I still don't get that;

This reads as - for each investment property purchased,5 to 8 households have to seek rental accomodation?

That simply doesn't make any sense.

Melbournes Newest Suburb - Fishermans Bend

http://m.theage.com.au/victoria/fish...218-1az0r.html

Cool. Another possibly smutty sounding suburb.

Bangholme is still my favourite. Especially when said with a pelvic thrust.

Bald Knob is my favourite. Although it is of course not in Melbourne.

BB

I've said this one before, but it's worth repeating on the smut side of things.

"Pakenham upper"

Not so far from us...and you know what...never crossed my mind...

We went to look at a few rental properties and came across this house for sale. This place (as also similar houses down the same road) is renting for $750 p/w and according to the agent, the owner is looking for a minimum of $1.6M PLUS!
We really liked the house but after we did the sums they just didn't add up

http://www.domain.com.au/Property/Fo...did=2008815423

I reckon 1.6 million for a big house on a big block with views in Kew is pretty reasonable!

BB

Yep, they usually go for more than that in Kew, even smaller blocks.

Reasonable?...lol This house is renting for 750 p/w. House next door went for 650 p/w:

http://webcache.googleusercontent.co...www.google.com

No, my sums still don't add up, views and size notwithstanding. Especially when I can rent one for $750 p/w or even less

PS: it is 1.6M PLUS