Browsing through the Afternic domains just now and saw a few .au domains for sale. There are some there for some reasonable prices, as well as your typical overpriced domains.

melbourne-online.com.au has an asking price of $10,000, quite ridiculous really. stress.com.au looks like a good name, but with an asking price of $34,000, i dont think it will be sold anytime soon.

There are also a couple of .net.au domains including boat.net.au, construction.net.au, two.net.au, limousine.net.au, nutritionist.net.au and backpackers.net.au all with minimum offers of $250

Similar thing happening over at sedo, lots of names at inflated prices, or just "make an offer", I've made offers, the prices coming back are usually 50-150k.

I think its going to take a year or more before the sellers realise .com.au is not the same as .com and we see a correction in the asking prices.

__________________
AuDomaining.com.au - Australian Domain Blog

There will still be sellers that want big money for their domains, its costing them $17 a year to hold, so you can easily afford to hold off for years on end. Especially when the owner has registered them from scratch and not tied up cash into bought domains.

Of all those, i'd take nutritionist.net for $250. For development potential not resale.

I guess i'm more of a web developer than domainer :|

Thats when you actually get some work done, and aren't down at the pub :P

I do some of my best developing at the pub. Unfortunately I just develop alcoholism and a beer gut, not domains.