Hi Guys, I have read through many threads on this forum on my quest for due diligence on my first property! About myself: -25, single, earn around 90k pre tax -have 200k saved up (have lived at home not paying rent so have had a huge boost up) -I'd say I have a fair appetite for risk, I wouldn't like to see my whole investment go up in smoke ( I know its rather unlikely) but losing a fair chunk of money is not a huge worry at my age -Budget: Up to 700k Goals: -Be financially independent by the time I am 40. Looking to travel the world, work overseas, have an absoloute ball during that time as well. So, Looking for my first property I was keenly looking into Sydney but 2 particular things put me off -Prices, Houses anywhere near the city, even in Lower Socioeconomic areas (Rockdale, Arncliffe, etc) would be looking at $900k at least. -Property Cycle, I'm not 100% sure on this one, please help me out here. In my layman knowledge of financial cycles (first year economics of my commerce degree) I would wildly guess we are at a Peak or very best, a Downswing of a property cycle? If this is the case would it be a very inappropiate time to invest in Sydney. With these two factors in mind I think I should look to Melbourne? -Prices, From my preliminary research it seems a House within 15km from the city would be around 600k? Personally, a 400k mortgage I would feel very comfortable with. -Property Cycle, I have zero expertise in this area but having a guess, I would say Melbourne would be currently on an upswing or looking to somewhere towards a peak. I know this would be a very basic way of looking at things but I am trying to paint a clearer picture for myself. So with this in mind, I've had a look at areas in Melbourne. It looks like a cheap suburb which is relatively close to the CBD would be around the Footscray area? Obviously I haven't done an huge amount of due diligence but comparisons of the area I can see are to a Pendle Hill / North Parramatta of Sydney. Those suburbs in Sydney, to me possess a stigma about them, not exactly where young professionals would live. Hence, what I really want to know, with a 700k budget (would be probably more comfortable spending 600k) what should I be looking at in Melbourne in terms of houses. Would a Townhouse or Apartment be a better investment but closer in? Thank you guys so much for your help, and I know this is a rather long winded post!