I can understand people buying a home of their own at the moment( as long as they screw down the price) but I don't understand why anyone would contemplate buying an investment property unless its cashflow positive from day one on 100% borrowing. The only rationale for buying on lesser terms than these is if you think that the market is going to show significant capital gain over the next 5-10 years. Otherwise I just don't get it.

On the other hand, though, the Auckland apartment market is starting to look interesting...