Whilst the CBA has predicted a 32% drop in house prices, we know that this will be much greater.
When people lose jobs, they cannot pay their Mortgage. This causes the mean house price to drop a little, and then more people become aware of the drop, and race to sell their houe before prices drop further. Then they have to lower the price to make a sale. Then the prices drop some more, and so more people rush in to sell. Then prices drop again, and the cycle repeats. Thankfully Collectible Cars go the OTHER WAY, and will continue to rise beyond the 4.2% that has already occrred.