A view of Sydney from a bridge
Media playback is unsupported on your device

Australia's rising property prices spur bubble concerns

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.

  • 24 Oct 2013
Go to next video: Australia courts Gulf tourists