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Ok, I see what you're saying. But if you are renting so that you can invest in property, you will have the same costs of ownership owning the IP or the house you live in.

Doesn't an IP have the same costs? An IP may in some circumstances also have land tax.

Not necessarily. There's many places which have a lot of owner occupiers which are highly desirable and show good growth.

You have another benefit to living in your own place. Rents will tend to rise over time, whereas mortgage payments will vary only with the interest rate. After some years you will probably be paying less to live in your own place than a rented place. The only mortgage I have on my house now is a...