The Rich Dad Poor Dad author, who has also written Rich Dad's Prophecy predicting a global crisis caused by a United States currency crash in 2016, said the Australian property market was a bubble about to burst.

Kiyosaki, who was speaking at the Masters of Wealth seminars in Sydney on Monday and Melbourne last week, said foreign investment was spiking domestic prices and forcing local buyers to pay well above the true market price.

"Foreign investors are queuing up to buy anything they can get their hands on. This is causing average Australian punters to think they need to start buying now. It has created a bubble," Kiyosaki told Fairfax Media.

"It's pretty bad when the Australian property market is making news all over the world."

The International Monetary Fund released data in August putting Australia third on a list of countries with property prices outside historical norms, specifically in the relation of price to income.

The Bank of International Settlements has also branded Australian property as the second most overvalued in the world.

Real estate was one investment Australians should not be making yet.

"It will come down," he said. "It's not a real economy. Whenever you see too much money in one sector, you have a bubble.

"Property prices are going up, but are wages going up to reflect that? No. The average Australian is not getting richer, the whole economy is shaking.

"The poor and middle class are hurting and you have a speculative economy where [international investors] are running to buy."

Kiyosaki urged Australians to invest in gold or oil, where prices were falling.

"I would just sit back and wait for the crash," he said. "Find somewhere else where the money is safer."

Kiyosaki said it would be a US currency crash, created by the printing of $US6.5 trillion ($7.6 trillion) since 2008 without gold backing and possibly triggered by the deal between Russia and China to do business, but not in US dollars.

"Because of the uncertainty, people are flocking to something that is real; they are searching for something tangible," he said.

"Right now, people are speculating on real estate. It doesn't make sense but they want to do something."

The Real Estate Institute of Victoria has responded to Kiyosaki's claims, saying there is nothing to worry about.

"What we've seen is a growth period in the past 12 months," institute spokesman Paul Bird said.

"Now, the current median house price [$650,000 for Melbourne] has plateaued.

"The likely way forward is for prices to moderate in the next six to 12 months."

Mr Bird said the growth had not been unsustainable and there was unlikely to be a sudden fall in prices.

"There has been talk of a property bubble but that doesn't correlate with our data, our research or our thoughts," he said.

"We will just have to see how the current quarter goes."