Australian housing is on the brink of a sharp downturn. Experts predict a possible 15 per cent drop in prices. This marks the largest decline in housing prices since the 1980s. National home values have lost $34 billion from their peak. A further 10 per cent fall is possible. Housing affordability is now at a record 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.