Multiple outlets report that recent declines in Australian house prices have not meaningfully reduced a long-running housing affordability gap. The coverage cites the view of Centre for Independent Studies chief economist Michael West, who says the affordability shortfall built up over years of rising home values and that the effect of recent price falls is limited. While some recent price movement is occurring, experts quoted in the articles argue that it would take a much longer period of sustained declines to materially improve affordability for buyers. The reporting describes the gap as persistent despite falling prices, implying that the earlier rapid increases in housing costs have outpaced subsequent reductions. Overall, sources agree that closing the affordability problem will likely require “decades” of falling prices rather than a short-term adjustment. The articles also frame the issue as ongoing, with affordability remaining constrained relative to incomes even as the housing market cools from prior highs.