Hi Noel, my girlfriend and I are young (26 and 30), have a healthy income, small amount of shares and we can save quickly and easily.
Given the high mortgage interest costs, with little principal repaid within five years, we are considering to forever rent and instead just continue to invest in the share market.
Are we doomed if we never get into property, as proffered by friends and family
In most cases it is cheaper to rent than to own, but this does not work well for most Australians as they never get around to saving the difference.
In Australia there is a mindset that property is the only way to go and this is why you will be bombarded with advice to buy from those around you.
You sound like highly disciplined people and will probably do very well by renting and investing as opposed to buying a home and paying off a mortgage.
However, it would be wise to watch the property market carefully, and buy if you see a boom coming.