As the title suggests, I recently purchased IP2 for a great price and I am thrilled. Purchase price was sub $280k and the desktop valuation came in at about $340k (which after I spent a few k tidying up is pretty accurate). However, four weeks after settlement I have asked the bank to complete another desktop valuation just to see how much equity I had to play with.. Only for the valuation to come back at the purchase price! In my case, I am happy to wait a few months for the valuation to go back to normal. My income situation isn't going to improve enough this year to make a difference. I would need to be on 70k p.a. to be able to borrow money again anyways. Dang APRA I am with CBA (as I am casual and regularly have a few jobs on the go). I am hoping that in the next six months or so things will sort themselves out... So when I eventually get the right level of income (which might happen with overtime over the summer) I will need that equity to keep the cash reserves separate. Just sharing in case others are hoping to release equity soon after purchase.