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Probably because everything in it has depreciated.... (eg fittings, fixtures, etc). Steve's property might only have been worth $70k when he bought it too.... Cheers, The Y-man

I have bought several brand new properties. There are various additonal advantages in states such as Melbourne with regards to stamp duty savings etc. You may also get a higher rent with a new property than an older one. Unfortunately, you will find that the cash flow will still be...