Sorry to pitch in here, but the difficulties those Companies have faced in recent periods is due mostly to cost blow-outs.
It is a clear a sign you can get that it now costs more to conduct business, include building homes and/or units.
If it costs more to build, and those doing so do not make profits, they have several choices...
1. Stop building = create supply deficit
2. Sell the properties for more.
3. Reduce labour/material costs.
As for Point 3, the resistance to this is even greater than the resistance to lower property prices...so forget this idea.
So we are left with Points 1 and 2...which is why, over time, house prices do only ever rise.
Whilst our population continues to grow, and inflation remains above 1%, and employment remains high, property will always go up.
Add to this scenario the fact land is relatively finite, especially around city centres, and the fact Australians are becomming collectively richer as a nation, there is very little to affect ongoing downwards pressure on property prices.
