I'm surprised this statistic has been given such little attention on this forum, 1 in 7 taxpayers, that's huge.
Only 50% of the population can own an investment property + their own, the other 50% of the population are renting.
1 in 7 taxpayers is a massive number as we can presume a majority of those people under 18 and over 65 aren't included, but the over 65's are more likely to still own their principle residence.
Then there are those who own more than one investment property, 2, 3, 5... No wonder the prices have kept going up, leverage on leverage.
It's scary really, let's say that one day (I've no idea when) the prices do fall, it will affect 1 in 7 people who are the engines of growth for our economy, that's very bad, these people stop spending, stop investing, that costs jobs which affects more people.
Who do you sell your investment property to if everyone already has one they don't want?
