A friend send through this chart which shows Steve Keen’s professional judgment about the house price bubble in Australia. Steve is Professor of Economics at Kingston University in London. Kingston is ranked the 109th best univeristy in the UK – https://www.thecompleteuniversityguide.co.uk/league-tables/rankings?r=london.
The chart shows the ABS index of house prices from 2004 to the latest data for the September quarter 2016. Prices have been strong for many years, even with the odd period when prices flat-lined or dipped marginally in 2008-09 and then 2011-12.
Australian house prices have risen around 80 per cent since 2004.