A few points to make to refute talk if a property bubble in Australia
1, Some are comparing the Australian property market now with that of the USA prior GFC and the property market crash. Sorry but our banks and lenders are much more prudent and cautious in doing thorough checks before lending. We've all heard about the NINJA (No income, no job or assets) loans in the USA back then, no way those type of people would get past the receptionist in an Australian bank.
2. Foreign nationals can buy property here and there is no shortage of cashed up Asian investors who are ready, willing and able to invest in property here - especially in the capital cities. These people are growing in both numbers and wealth and would prop up any shortage of Aussie buyers if unemployment was to tick up significantly here.
3. We've just come through the worst financial crisis sine the 1930s and if a major crash was going to happen then that was the time for it, but no the market moved more or less went sideways over the last 5 years. History tells us there is usually a big gap between massive market crash like the Great Depression and the GFC, we are about to enter a period of world economic growth and expansion and as always Australia will get carried along with it.
