Article is pretty comprehensive. Just add that the government in power during a housing price collapse will be out, so they'll do whatever they can to forestall

Article is pretty comprehensive. Just add that the government in power during a housing price collapse will be out, so they'll do whatever they can to forestall it. High immigration rates mentioned in the article are because Australia is a great place to live; this will comtinue. We did have a housing correction a decade or two ago, with a mostly soft-landing. But instead of prices actually falling, people avoided selling of they could. The only way prices will fall in practice is if the economy implodes - while this could happen, like a nuclear war, there would be much more serious problems to consider than house prices if it did.