The melbourne market has done incredibly well throughout the last 12 months. The Eastlink freeway has made a huge difference to the prices down in Frankston. There is another link road opening this year i think, that could do the same...
This is true, but consider the effect when the interest rates (inevitably) rise again back to their median levels ... there may be a number of 'cheaper' properties on the market when the first time buyers realise they didn't do their sums correctly.
The banks do factor in a number of rate rises...
Brazil does rain yes, but it's still an awesome place to go... and a great place to invest from what I learnt when I was there. The holiday let market is quite lucrative from discussions I had with several people.