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This week's OneRoof property report said four out of five Kiwis believe house prices are too high and the market is looking similarly hot in Australia.
Prices in major cities in Australia have gone up 19 per cent over the year to October according to Westpac.
Economists here are wondering how long the house price surge will last.
HSBC Chief Economist Paul Bloxham joined Heather du Plessis-Allan.