Aussie home owners and property investors breathe a 'collective sigh of relief' - for now.

Despite the crushing weight of opinion from some of Australia's most seasoned economic forecasters, the Reserve Bank of Australia chose to keep the official cash rate on hold for at least another month.

I wasn't the only one stunned into silence when the interest rate decision was handed down at 9.30am local Sydney time this morning. The RBA surprised the hell out of a whole lot of people with its decision to keep interest rates at 6.25% until at least May.

Having said that, I must confess that I was - and am - very relieved that interest rates didn't go up another quarter of a percent this morning! Look, Australia is a great country - and yeah, I'm the first to admit that we Kiwis 'take the piss' out of our ocker cousins 24/7… but hey, we only give as good as we get……

Australian property investors - unlike New Zealand property investors - have to contend with government stamp duties and capital gains taxes where property purchases and sales are concerned. However, despite the expensive red tape, property millionaires - and even billionaires, are being born every day in the land downunder!

But do you know what REALLY gets up my goat? The fact that "I", Bruce "the goose" Smeaton, could've been one of those multi-millionaires years ago!

Tell ya what… I'll humiliate myself some time in the next 24 hours and share a few painful home truths with you… just so you know that you're not the only one who regretted not buying certain properties umpteen friggin years ago when you had the bloody chance - and the money - (but not the intelligence) to do so!