Hi Bec,
               I settled a property in Sydney in 2002 ( Waterloo) for $455,000, back then things were over valued and my property was valued at $585,000. Now in 2007 i would be lucky to get $520,000. I purchased off the plan for 455,000 using a deposit bond 2 years ealier ans kicked ass but the last few years have been slow eventhough the rent is becoming stronger. Sydney will always be great if you look at the long term. Darren