australia similar to ireland ?

I have heard around the traps about the property buble in Ireland , so i have been surfing the net and found that there does seem to be some truth in it.
this link - http://www.globalpropertyguide.com/Europe/Ireland/Price-History

provides honest and factual data , and as its from actual events it can not be deemed to be scaremongering.( although it scares the sh#t out of me )

This sounds like Australia-
Before the global crisis, Ireland’s house price boom was one of the biggest in Europe, with prices for new houses surging by more than 200% from 1997 to 2007, and average used home prices rising by around 280%. When the bubble burst in 2008, it was the world’s biggest property bust

The national average asking price for residential properties was €210,000 in Q1 2011, down 43% from its high of 2007. According to Daft.ie, Ireland’s biggest property website, it takes an average of nine months to sell a house, the same average as last year

The bit about rents was also very interesting -
Rents stabilising, but yields poor

The housing market crash devastated the rental market, but the situation is now stabilizing. The housing crash initially resulted in a huge expansion of rental offers. From 6,200 units in August 2007, the number of properties for rent rose significantly to more than 23,400 in August 2009. However, the stock of rental properties has now fallen to less than 18,000 (October 2010).

Dublin rents actually rose during 2010, but are still 30% below their peak levels.