Thanks for the advice:

Debt consists of a car, x2 overseas holidays including a wedding and consolidation of credit cards which were out of control and now closed.

I agree, we have cut back remarkably on spending -better than I thought. I also save $75 per week but have recently put those savings towards my loan.

Tasmania has had a huge property boom over the past 2 two years where we have seen property almost triple in value. It was quite plausible to purchase a decent, livable property in Tas within 10 k of the CBD for 60k around 5 years ago. Prices peaked and are now falling slightly with many more properties for sale than 12 months ago. So I figure that with a recession predicted and a rise in interest rates homeownwers who purchased during this boom may not be able to meet their repayments and will sell, the market will slow considerably and housing prices will settle back again (but not to their previous level) and there will be more bargaining power for the purchaser. This seems to be the talk around town with real estate people.

Now, forgive me..I am just a nurse not mega financial wizard obviously and have just been thinking about this and am probably way off track but…it is what my brain tells me. (I am a way better nurse than a financial predictor!!)

I am considering purchasing in my daughters name (she is 18) who is eligible for the FHO grant and I think a reduction in stamp duty. We can save 10k fairly easily between us.

Thanks for your replies. Got to start somewhere and here I am.