The property market is an integral part of the Australian economy buoyed by population growth which would appear to have no signs of abating. The market continues to be exceedingly aggressive and house prices look to be continually rising.
The Australian economy has no booming or expanding mining or manufacturing industries to support us and this is where I see the housing market supporting the services industry which I firmly believe is set to expand with population growth.
The government body APRA seems dedicated to equalising the house prices by looking over the lenders balance sheets, however, given the Australian market, I personally cannot see this body fixing the problem. Yes, they will eliminate some investors as banks must respond to their requests. This could make the market seem precious and, again, put another desired driver in place.
As I see it, Australians have always loved property, always will love property and the overseas markets view Australian property as a safe investment. At worst, I believe, the market may come off, however, in my eyes this market will always be prized.