Money Property Share Tweet Australian Property Market Outlook – Bubble or Bust? Eureka Report’s James Kirby looks at recent housing data and what it means for Australian property investors. Bubbles in housing markets are more critical than stock market bubbles. A real estate bubble or property bubble (or housing bubble for residential markets) is a type of economic bubble that occurs periodically in local or global real estate markets. It can be identified through rapid increases in valuations of real property such as housing until they reach unsustainable levels and then decline. As with all types of economic bubbles, whether or not a real estate bubble may be identified or predicted, then perhaps subsequently prevented, is contentious.