*  *  *  Economic growth and prosperity are created primarily by what economists call "real" factors - the productivity of the workforce, the quantity and quality of the capital stock, the availability of land and natural resources, the state of technical knowledge, and the creativity and skills of entrepreneurs and managers.
In the United Kingdom the fall was smaller – at about 15–20 per cent. In Australia, the decline since the peak has been about 5 to 10 per cent, depending on the region. There are of course prominent examples of particular localities or even individual dwellings where price falls have been much larger.