Australia’s Housing Market Bubble

Australia’s housing market has had their best winter since 2007 according to figures released this week by RP Data. The company says prices for capital cities dwelling rose 4.2% over the three months to the end of August. The increase had been lead by housing market in Sydney and Melbourne as prompted a warning by the Reserve Bank Governor, Glenn Stevens, said there could be a correction. In this series of ABC News, Ben Kingsley, was asked if there is currently a housing market bubble particularly in those markets like Melbourne and Sydney. Watch the video to learn more.