Rent prices are all kinds of messed up. We pay 340pw for a very old 3bdr house about 45 minutes from Melbourne CBD... I dont think its worth that much, and I have seen places that are really nothin special even further out in pretty crappy suburbs for even more. We're in a sh!tty situation ATM too - DH now earns enough that we *could* pay mortgage repayments for a nice house in the same suburb, but it'll be at least 5-6 years before we can save enough money for a deposit. OR we could continue renting for the rest of our lives but live closer to the city.