My situation - advice and suggestions please :)

First, you need to work out what sort of compromise you can both come to, well done getting to the point where you both agree to do something and know how much potentially you can borrow. Sometimes it may take many many years just to get to this point.

If I had the money, there are things I would still look at in Sydney & if you buy right or the right place, it may still be ok, only you both can work out what to go for and how much.

As far as elsewhere, well it pretty much seems like a smorgasboard to me, just do your checks, and there is so much out there, there are so many regional s inland and coastal and states, it really won't be hard to allocate that sort of money.

With the capitals you can find out what the good people on this forum are thinking at any one time.

 

They say happy wife, happy life.
Probably best to buy a property at the peak of Sydney market.
At least you can say I told you so when it tanks.

 

Lol!
@InvestmentNoob who is the driving force or the main person pushing the investments? Ill take a punt and say you are, so keep reading and to go forward like others have said syd isn't a wise choice so get your info together and you'll have to sit down and work out a plan with the mrs.don't jump into syd cause she wants to. You need the numbers to work.

Forget syd or areas for now and work out finances and long term plan

 

I would agree..although there are opportunities in every market.
On average yes sydney and mel are fully /mostlt baked for this cycle. The cake might rise a bit but i doubt much in Mel. .
Bris is the obvious one talked to death on these forums.
Adelaide- i would avoid . Cheap yes, but they have some serious economic issues. Similar for perth, and its not cheap either, although perth has more economic potential than adelaide.
My 2c.