A possible "angle" to consider is that historic metrics may no longer be applicable in a world of increasing disparity between rich & poor (yeah even in good old egalitarian Oz). Like any scarce resource the traditional view of the real value of prime real estate may well be seen (in the rear view mirror) as ridiculously cheap.
As for 6% clear return on rental properties ..... it's those times that actually stimulate property prices higher, because 6% + capital growth is a fantastic investment to be in
