Sep 3, 2026 – 4.00pmThe real estate downturn has arrived at the doorsteps of Prime Minister Anthony Albanese, Treasurer Jim Chalmers, Housing Minister Clare O’Neil and other Labor leaders, wiping 4 per cent or more off prices in some of their neighbourhoods over the past three months as the housing slump takes hold across the country.Prices sank 4.5 per cent in Chalmers’ home suburb of Springwood in Logan City, south of Brisbane, in the past three months. Prices fell 2.7 per cent in Brisbane itself in the same period.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles