All points above are very valid. A common concern is the “over supply” of rental properties. At the moment, this may be true. The First Home Owners Grant took a lot of renters away from the market…but the housing boom has pushed prices beyond that which the average person can fund, grant or no grant. Housing prices have sky rocketed over the last few years – well beyond the average wage. Wages simply have not kept up and this will cause an end to the spiralling prices. Sooner or later people will simply not be able to afford to buy. This will then turn current “hopeful” buyers into renters. Failing major interest rate hikes, not predicted by anyone, I believe the property market will go into a stagnant period until wages again catch up. There is already renewed interest in the share market showing, as it is clearly underpriced at the moment, and this will also take pressure off in the housing market.