Australian housing faces a sharp downturn. Experts say prices could fall by up to 15 per cent. This marks the largest decline in housing prices since the 1980s. National home values have lost $34 billion from their peak. A further a 10 per cent decrease in housing prices is anticipated. Housing affordability is now at a unprecedented low, putting more pressure on buyers.

Some projects are still moving ahead. A veterans housing project in Coffs Harbour is gathering pace. While a Japanese firm is investing in a new housing development. In Sydney, plans for high-rise towers in the eastern suburbs are causing local fights over housing density.