Friends of ours just sold their rental home in Brisbane. After 5 years of negative gearing, paying rates, insurance and maintenance costs plus stamp duty, agents fees, solicitors fees, valuations, mortgage fees etc, they said that they were lucky to get their money back.
They will not be going back to property as an investment, so maybe it has begun, as more and more people do the realistic sums and stop fooling themselves.
Cheers,
