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 have seen a significant decrease of $34 billion from their peak. A further housing prices could drop by an additional 10 per cent. Housing affordability is now at a historically low, putting more pressure on buyers.

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