I know next to nothing of this property bubble in Melbourne, even though I'm from the originally. But it worries me since I'm going back at the end of this year and will need to find a home to buy. I currently own a little 2 bedroom flat I bought in the 90s for 90K which apparently now will go for over 500K. I observe that the prices in the suburbs I'm looking at are way over what we'll be able to afford. Over the past couple of years looking at property online, I have sort of been hoping it is indeed a bubble and that it will pop before I need to buy. But then I'm stuck with my flat potentially being worth far less too...