Attending an auction in the next few months? Well do not be completely surprised or annoyed if you encounter some form of underquoting, for although there has been wide spread media coverage of its frustrating knack for pushing home prices beyond the reach of some buyers, it is quite ironically often an essential component in a successful auction.

An astute investor knows that buying property is not about market timing, but time in the market. The more years spent in the market, the more likely you are to achieve substantial growth. Property should never be overlooked as a long-term investment and it can usually weather any economic storm – even a global recession.

Amid speculation of further interest rate rises, flow on effects from problems in the US sub-prime mortgage market and a recent cautioning by the Federal Treasurer Peter Costello about high risk lenders, it seems a wise time to think less about how much you can borrow, and more about how much you should borrow.

After years of spending up on overseas trips and big nights out, just the thought of saving a huge five figure home deposit can be daunting. But by setting a firm goal, cutting out a few luxuries and dropping your money into some high interest savings accounts, you’ll soon be on your way.