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I dont think that the previous boom was investor driven. IMHO, the factors were: - Low interest rates - Really easy access to money (banks easing their lending criteria, new lenders out in the market etc) - Better debt management'schemes' such as debt consolidation, redraws, offsets etc which...

I can't see how investors are driving the market. First of all, around 80% of houses are owned by owner occupiers, and not investors. Secondly, investors try to get houses for as low a price as possible (as also pointed out by Les). If only 20% of the market is investing, and they're...