11 July

Interesting: One belief associated with the Australian property bubble is that real estate value doubles every 7 years. However, "Take the city of Sydney - the Mecca of property investing. In 1890, the average Sydney home price was $1,446 (£723). If property really does double every seven years then, in 2009, the average Sydney home would have been worth $189,530,112.00." Today, the average price of a home in Sydney is closer to half a million dollars rather than $189 million.