Analysing the performance of The Property Investors Alliance property portfolio from 2009-2015, Justin Wang and Associate Professor Chy Lin Lee found that debt financing, versus equity financing had an acute impact on housing investment. 

The article, recently republished in the Australian and New Zealand Journal of Property (September 2017), demonstrated that in a low interest rate environment, investors who utilised debt financing to secure their investment properties, were able to achieve greater return on investment, over the period in question. 

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