A survey by the NSW division of the Australian Property Institute in October asked a range of valuers, funds managers, property analysts and financiers how long the upward trend in prices in Sydney and Melbourne would last.


For Sydney, 44% thought it would run another six months, while 33% expected another year.


For Melbourne, 50% expected the rises to go for another six months and 33% said a full year.


The survey also canvassed opinions on whether the Sydney, Melbourne and Brisbane markets were “in a bubble”, leaving the respondents to decide for themselves how to define a bubble.


For Brisbane, 70% thought the market was neither in, nor entering, a bubble – while half the Sydney respondents thought the market was not in a bubble.