I say that investing is at its worst point in 5 to 6 years because, as ppl have pointed out property has not retreated and is still very costly to accumalate. Key Henery said “Well, yes, if you are looking at it from an owner’s point of view. Prices have cooled somewheat from peak times, auctions are deader, it takes doubly as long to sell a place etc etc. But conversely, we could say that property investment is at its best point for buyers”. Sure prices have cooled but as a whole the market is still way over valued. A bargin today in my opion will be a house that you have paid to way to much for. Its in my opion that one interest rate rise will see the market go into melt down. Remember guys you make your money buying not selling. Also replying to wester when you said this. “you may well be right. But remember that property investing is very expensive to move in and out of (unlike shares) which will mean that you are better to ride through the down period as by the time you sell and buy back again you maybe out of pocket, not to mention paying tax”. To me that is crazy talk. Number 1 rule, trust yourself, if you think there is going to be a major down turn, dont ride it out, act on it, the last thing you want is to be holding a liability that is going backwards that you are unable get rid off. Its all about choices, set your self for the next buying oppertunities, Cash will be king for the next 2 to 3 year. It will be hard to borrow of previous properties equity as property prices fall.