So if it hadn't peaked so high it would be a much better investment?
Not all property has shot up in the last 7 years, not all stocks have gone down. Of course most stocks backed on hotcopper have been destroyed because we're all a bunch of gamblers here.
It seems illogical to have a complete bias for one or the other. But people like to defend what they back. I've got a lot more money in property at the moment but that's just due to personal circumstances. My Vanguard ETFs (Which reflect the index) bought in 2012 have gone up 30% since 2012 ignoring the extra 10% or so gross yield on top of that. If i had sold a month ago it would be almost 40%. I was lucky enough to be too young to have the GFC do much (though it only hurt if you sold immediately after or bought at the peak).
