Approximately 11 months ago, just before the election, I seriously considered a few different properties and made quite a few offers (I'm usually picky). After a super slump in January and February, it seemed the deals were going to be good for a while. To cut a long story short, the properties I bid on were all quite good opportunity buys and so were competitive/went well over reserve at auctions, despite the fact that the news everywhere was "this isn't going to get better" and all the uncertainty at the time caused negative sentiment. I learnt my lesson: The best time to buy is not when you're getting a good price, the best time to buy is when its hard for people to get financing..! Now the sentiment is strong and it seems everyone is looking to buy.. I would rather "overpay" for those good properties back then. Now it seems to be a bull run for all properties, even ones that most people wouldn't glance at twice! As we all know, the APRA changes allowed people to borrow more, and the Reserve Bank further reducing rates also helped significantly! And so it seems, its better to leave some cash reserves parked in an offset at 3.8% then to buy anything.. Anyone else in this situation? Would rather keep cash reserves as high as possible to buy in when the situation returns to "difficult financing". Would you also rather buy top tier product with less competition? Is it worth waiting for?