If you need to ask which is more important in life, a car or a house, then you obviously need to grow up and mature, especially with current real estate market in Australia.
I have just sold my Skyline and bought a near newish 3 bedroom, two storey house within 22 KMs from CBD. I could of even kept the Skyline but I figured that a fuel economic car like a Corolla will suit my budget a lot better and I got a decent price selling my car EARLY instead of waiting till the petrol hits 2 bucks where Id get peanuts.
I also own shares but they fell over recently which does not matter as I am in it for the long haul.
And as some already said, the house will appreciate in the years ahead, a car (esp a Skyline) will always fall in price.
Now I just need to find myself a newish corolla... boring but effective. And besides, if you put up with crap early on in life (buy a house and pay it off as much as you can early on) or buy more investment properties and shares then after a while you will rip the rewards because your assets will apreciate and who knows you might even be able to drive an exotic while...
So the moral is, buy a house asap, live below your means and you will achieve financial success earlier than most people.
EDIT
Oh and ask old people how "sweet" it is to live off the pension... cant afford anything and most of the old folk in this country own their home outright... imagine that you have to rent when you are 60 yo! Also remember that your time and working ability is your greatest and most important asset, once you get old and weak, you can kiss your financial security good bye.