Even though Australia has the windfall mining receipts, it still runs a current account deficit and has basically forever. And although the mining take is large, it's dwarfed by the larger economy. I don't think it is that which is inflating house prices, with the possible exception of some mining towns, where increased wages chase finite supply. But that's not the case on the east coast, for example.
I didn't mean that mining is causing it, but facilitating it. The mining income feeds the rest of the economy - without it, the larger economy would shrink: when rents increase, people are willing to pay it because they are employed.
