Morning Money, an investment website, has recently published an article: The Long Drawn Out Retreat in Australian Housing Prices. It predicts, due to an ageing population, that Australia will not need more housing in the future, and that house prices will decline as baby boomers sell up or die.
Whether the prediction is correct or not, I don't know. However, I believe that apartments are more suited to an ageing population than stand-alone houses. That is one reason I prefer apartments to houses.