More young Australians see themselves as lifelong renters as the dream of home ownership fades, a new survey has found.

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MELBOURNE'S property market continued its incredible run at the weekend and because of strong demand, shows no signs of slowing. This weekend, 739 out of a reported 875 auctions resulted in a sale, producing another high clearance rate of 84 per cent.

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THE Reserve Bank governor's comments in his surprising series of television interviews this week concentrated, among other things, on dampening any potential enthusiasm for speculative activity in a rapidly rising housing market.

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FOR those who have bought in Melbourne's inner city, the good news has been the steady climb of property prices as former working-class enclaves have become hip addresses.

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INTEREST rates will almost certainly go up on Tuesday, taking mortgage rates closer to ''average'' levels of 7 per cent. Then Glenn Stevens, the newly revealed guitar-playing, all-round ''ordinary guy'' we have for a Reserve Bank governor, will explain it had to happen because house prices are going crazy.

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BRACE yourself, home owners. Barring some overseas economic or financial calamity, it's almost a certainty now that interest rates are going to get significantly higher.

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RESERVE Bank governor Glenn Stevens has flagged that the Reserve could raise interest rates in future to stop rising house prices developing into a boom and bust that would damage the economy.

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YOU'D never buy a pair of expensive jeans without trying them on first. After all, the cut could be unflattering and sizes are not what they used to be. But somehow, property investors feel comfortable risking a lot more than the cost of designer clothes when they buy an apartment without having stepped inside.

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Property analysts say a seven per cent surge in Brisbane house prices last year is not a true reflection of capital growth.

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MELBOURNE house prices soared by 17 per cent in the first 11 months of 2009, outstripping growth in all other capital cities, new figures show.

The latest RP Data index, compiled from Valuer-General's figures, indicates the Melbourne median house price hit a new record of about $580,000 in November.

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