Australian housing faces a sharp downturn. Experts predict a possible 15 per cent drop in prices. This could be the biggest drop since the 1980s. National home are down $34 billion from their peak. A further housing prices could drop by an additional 10 per cent. 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 advancing. While a Japanese firm is supporting a new housing initiative. In Sydney, plans for high-rise towers in the eastern suburbs are causing local fights over housing density.