Why Australia’s property market is in a bubble

Posted October 24, 2018 02:29:00 Australia’s real estate market is a bubble, says Australian real estate analyst Ben Stoddart.

He argues the country’s median price is still well below its peak, and that the current boom is just a short-term spike.

Read moreMr Stoddard says the median price of homes in Australia has risen to more than $800,000 a year.

“I think it’s going to take a while for people to realise that the house price bubble is a thing of the past,” he told AM.

He argues that the price increase has been driven by an increase in the number of homes being built in the country.

Mr Stoodard says it’s also been driven in part by foreign investors.

Foreign buyers are now worth about 10 per cent of the Australian property market, but it’s likely the country will only continue to grow its population, as China slows down its population growth and Japan’s economy slows.

Australia has one of the highest population densities in the world, and a growing population is expected to have the biggest impact on the countrys property market.

Real estate agents say the current frenzy is not sustainable.

The Australian Bureau of Statistics predicts there will be 3.3 million more Australians by 2027 than there are now.

But it warns that while there is a boom, it is still too early to tell whether the boom will last.

One of the big concerns is that the economy is still very fragile, with wages still falling, and the government is still grappling with how to deal with the massive unemployment rate.

Another is that property prices in the capital are also going up, with average prices in Melbourne jumping 10 per one per cent year-on-year.

At the same time, there has been a massive increase in new homes being constructed in the city.

As property prices rise, so do rents, which are set to rise by about a fifth to 25 per cent in the next five years.

What to do about it?

Mr Stodard says that while the housing boom is only a short term spike, it will cause a huge amount of pressure on the economy.

It’s not just about the cost of living and rents.

Many people in the market are already overburdened with mortgages, so it’s a lot of stress on the system.

And that’s just not sustainable,” he said.

When you add in the fact that the government has already borrowed heavily to fund the housing sector, he says there is already a shortage of supply in the property market and that this will lead to more speculation.

There is also the issue of rising prices for existing homes, which is another concern for the market.

Mr Stddard says he thinks Australia is in for a prolonged boom in property prices.

I think we are going to have to look at the long-term future of the housing market, and I think that will lead us into a bubble for quite some time to come,” he says.

However, he also believes that the housing bubble will be temporary and that Australia’s future will be bright.

Topics:housing-industry,real-estate,australia