Australia's housing market could crash, warns Rich Dad Poor Dad author

Rich Dad Poor Dad author Robert Kiyosaki is expecting Australian house prices to crash after rising by the third-fastest pace in history - because of speculation.

House and unit prices in 2021 surged by 22.1 per cent in 2021, CoreLogic data showed.

In records going back to 1880, that was the third-fastest in Australian economic history.

Kiyosaki, whose bestselling book in 1997 talked up the importance of stable real estate investment, said too much of Australia's property market boom was based on the Reserve Bank of Australia pumping money into the financial system.

'It's good for a while. You guys can keep flipping houses, all this stuff, but I'm doing my best to warn you that something might happen,' he told Daily Mail Australia from Phoenix in Arizona.

'You can't just keep printing money.

'What worked up to 2022 may not work after 2022.'

Between March 2020 and June 2021, the Reserve Bank gave $188billion to the banks to provide cheap home and business loans.

This Term Funding Facility program, to help Australia during the pandemic lockdowns, coincided with real estate speculation.

'You guys are a bunch of punters, you gamble a lot,' Mr Kiyosaki said.

'I watched your properties go up and up and up and up and I got out of there.

'There are too many Aussies and people all over the world, they're flipping houses.

'I've got to be ten times more cautious now because we have never been here, none of us have ever been here.

'None of us alive have ever been here.'

Mr Kiyosaki didn't give specific forecasts on property price falls in Australia. 

Tim Lawless, the head of research with real estate data group CoreLogic, said the Australian property market had most likely peaked.

'Although we can't see any evidence that specific housing markets have peaked, it is clear that most markets have moved through a peak rate of growth,' he said.