Ok, well im hoping to buy my first property by mid-late 2008. Initially i'll be living in it for 6 months to claim FHOG, and do some minor renovations, to hopefully get some quick capital gains, and improve rental return. I'll be hoping to find a place in Sydney area for no more than $300,000. So my question is: If you were in my situation, where/what would you buy? I've been considering areas like Sutherland and Parramatta. I've also thought about perhaps getting a small place in the heart of Sydneys CBD, what's capital growth like in a small studio apartment in Sydneys CBD?