Property prices continue to grow

Their effervescence makes Australia’s supposedly bubble-like market look like a beer left out in the sun for a couple of days.

Prices in first tier cities like Shenzhen have tripled over the past five years, while the Shanghai market is up almost 100 per cent in the same time.

Having encouraged the boom, policy makers have become worried and tightened purchasing and lending rules across 21 of China’s biggest cities.

If the bubble gets bigger, even tougher restrictions may be imposed leading to fears of an even sharper correction when it arrives