Australian Housing Market - A History of Price Rises

From 1995 to 2004, prices rose 133% in Sydney, 123% in Melbourne and 109% nationally. The central bank started leaning against the wind around 2004. We didn't have the big crash that a lot of other countries who had experienced previous run ups and house prices had. Our government came in with very aggressive fiscal stimulus which proved to be crucial. Chinese demand for our resources, a lot of wealth washing into the country that way.