A view of Sydney from a bridge
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Australia's rising property prices spur bubble concerns

24 October 2013 Last updated at 04:19 BST

Property prices in Australia's major cities such as Sydney and Melbourne have started to soar in recent months, driven in large part by record low interest rates.

But some home buyers and sellers are now starting to wonder whether Australia's market is headed for bubble territory.

The BBC's Phil Mercer went to a housing auction in Sydney to find out.