Looked at a rental yesterday and it was $850 a week. House sold in July for $1,840,000 to an investor, so rent is a gross return of 2.4% per annum. Need about two years rent to pay stamp duty, then there are agent fees, maintenance, land tax, vacant periods.
Don't need to be a rocket scientist to work there a bubble about.
I'm betting the property bubble will end in 2015, page-195
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