Downturn - dwelling prices flat or falling, a drying up of construction activity, eventually leading to an undersupply of dwellings;
Stabilisation - interest rate cuts, followed by a lag while pundits list a wide range of reasons why monetary policy doesn't work ("land prices too high", "too much debt" etc.);
And indeed, the 2014 outlook for Canberra appears to be one of falling rents and prices, while rents are also now falling in Western Australia after a 10% jump in dwelling prices in 2013.
1 - Owner occupiers