The city versus regional property debate is not unique to Australia.
I recall back in 2006 seminar presenters noting that "property always goes up" so investors should "use 100% leverage to buy in regional areas where yields are high".
Didn't work out too well.
On the other hand property owners in London have continue to see extraordinary gains, with prices up by another +20pc over the past 12 months.
More from The Daily Telegraph here.