"A Property investment on 90% lvr has to rise avg 5% yoy just to breakeven in real terms. "
One thing to consider here is that while that strictly may be the case if you are a long term investor >10 years does it really matter if you get a 5% rise consistently each year or a significantly lower rise/even negative for a period of time but higher growth in later years - the end result is potentially the same. For the long term investor the only thing of concern is their ability to service the mortgage today if they can do that then that is all that matters.
