Yields are definitely not great. But most people compare them to the past few decades, expecting ~5%. But don't forget that yields are not great anywhere in the this low IR environment. Compared to bank deposit returns, property is still looking pretty good. Shares are better but come with higher risk, particularly at this stage of the cycle. Although you can argue the same with property.
Property has the benefit of being able to manufacture higher yield and capital growth, something you cannot do with shares. This is attractive to some investors.
FWIW though, I am not currently buying property or shares.
