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I couldn't agree more with this excellent answer.
I also have had similar discussions with my wife recently...and we have gone right off DIRECT property investment in a BIG way...mainly because of several very practical reasons.

With computers/internet direct investment in the share market is getting easier and easier (have you read Motley Fool's Investment guide!), where as it seems to me direct property investment is only going to get MORE difficult...consider tenant hastles, oversupply of appartments in the major cities, then you throw in the GST over the top of this, not to mention the recent changes which drop capital gains tax inflation indexation (since when has direct propery investments consistantly risen more than inflation...then you've got the buy/sell costs.. commisions to agents etc which seem to be only going Up(don't forget GST)..whilst share investment costs are going DOWN eg with internet brokers .

The biggest factor in our decisions favouring shares though were again practical ones...liquidity and diversification. You pick a bad couple of stocks.. and I've had a few!..what the hell, your only down a few thosand bucks and you can get your money out quickly and move on.. buy the wrong property (discover white ants, tenants from hell, senile body corporates, block of flats goes up next door just after you purchase..etc, etc,) and you've exposed a much larger portion of your total wealth to ONE bad investment decision.

Don't forget like me you are probably all ready over exposed to the property market via your home investment.

Now I'm no investment advisor, nor share market guru, nor does the stockmarket seem a bargain right now, but to me direct property investment would be potentially a real hastle.

If you want to invest in property..have you considered listed property trusts?
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