Two deposits, forgot to mention he is a PRC, Shanghainese. That should be enough clue for now as where he is getting the money.
So he is going to flip the unit then? Or he has enough cash to afford two deposits? 0_0
I know this may sound like the PAP, but I think Australians will have to inevitably "moderate their expectations" as housing affordability decreases. Focus on short term sacrifices for long term gains.
For myself, I don't plan to move to a house until my kid is 3 or 4 years old. Babies won't notice the lack of space anyway