"HOUSE prices are expected to rise by as much as 40 per cent across the country during the next five years, according to economic forecaster BIS Shrapnel."
That's according to "Housing affordability set to get even worse" from news.com.au.
The article also mentioned:
"In the 10 years before that house prices rose an average 6 per cent a year."
"In the past 20 years they have risen an average 7.9 per cent a year."
There's also another article titled "Land the issue, not prices" from Sydney Morning Herald today, that talks about:
"...the Reserve Bank shunting the blame on to governments that have given money to homebuyers while retarding the supply of land"
Indeed, if the government is giving out money but does not release enough land, the land price can only go up in the long run. Based on that, no wonder the house price would go up more than 40% in 5 years...