Coffee Brew not comparing like with like due to leveraging of returns in property portfolio. For example at 80%ltv getting 5 times the annual return provided rent covering expenses. For what it is worth I would say property will underperform equities on a pound for pound basis but as a leveraged play (as most property portfoios are) property will continue to outperform equities. The fun will only begin if property starts to go appreciably south in value as the leveraged investor will suffer much greater losses than the annual decrease published.