Housing market facing 'bloodbath' collapse: economists, page-8

Well if you believe in 10 year trends then it will be next year if we are 10 years behind America. I've noticed though a pullback in people buying recently from the frenzy. And someone in my street who has their house on the market can't get their price.

Definitely a bubble but because of overpriced suburbs, not the elite area's. They will always get their price because of location and social hierarchy demand.