Japanese spike is due to overextending of credit - it is known...

Japanese spike is due to overextending of credit - it is known at that time you can borrow up to 100 percent to buy properties - whereas Australia spike although it is not as great - limiting to Sydney and melbourne - is due to Chinese money.

There are already sign of oversupply despite Goldman Sachs pointing to 2017 - properties vacant in popular suburb for a few months.

I think the oversupply could be due to rich investors purposely letting the property vacant and now feeling financial pain is letting out their properties.

So the equation is our boom is due to foreign money and not ever extending credit and that pillar of support is currently being cut off according to some newspaper report. Of course, we need official figures to confirm that is happening.

Official figures usually takes a long time to come by and in the meantime the number of auction is increasing week by week.