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Which of the following statements regarding the characteristics of house prices in Sydney and Melbourne is INCORRECT? Select one: a. Long-run returns from property investment

Which of the following statements regarding the characteristics of house prices in Sydney and Melbourne is INCORRECT?

Select one:

a. Long-run returns from property investment are comparable to returns from the stock market.

b. The equity beta of property price indices is low, meaning a low correlation between house prices and stock market movements.

c. The low equity beta of property price indices suggests the property investment can be a good diversification strategy for stock market investors.

d. In recent years, the correlation between house prices and the stock market has decreased.

e. Every property is unique and infrequently traded, which makes measuring returns challenging.

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