higher inflation also means higher construction costs and will be passed on, higher wages etc. Won't be much of a correction, might be small falls in different pockets but more than likely flat for many years before the next leg up.
The other thing to consider is Labors migration policy which will allow more into the country and permanent residency. "Opposition leader Anthony Albanese has since signaled Labor may consider granting foreign workers permanent residency if it forms government.Thousands of workers come to Australia each year on temporary work visas." This will put more pressure on housing market, initially the rental market.
