Buy a house as soon as you can, get on that ladder man or you'll be crying for the next 20 years.
Interesting analysis of the current property boom there Superpilot!
The alternate view is that housing is 30% overvalued and the market is peaking. Monetary policy is now tightening globally and the end of the Japanese Carry Trade means asset prices are under pressure. Buying now may be the biggest financial mistake of your life!
Or you could just believe the spotty youth in your local estate agent that says now is a great time to buy and prices can only go up.
The bigger the boom the bigger the bust: See:
http://www.in2perspective.com/nr/sta...ings-ratio.jsp