Independent houses have always been preferred over apartments due to the large space, backyard options and the flexibility that they offer. However, these independent houses have never been considered to be affordable due to the high price of land that has plagued this market. However, with the median price of land in Australia falling by about a percentage and a half house and land packages are now an option that many more can consider. With the markets on a continuous appreciation of 111 percent, the increase in prices had made house and land packages unaffordable for many. With the modest reductions, there was a spate of house and land packages that started to appear in the market and were offered to consumers. However, experts stated that though the land prices had reduced due to the economy, the correction did not seem to have taken the reduction in cost of construction material. Therefore the consumers were still apprehensive about considering house and land packages and were expecting another correction in the market rates. It was only when the rates for the house and land packages stabilized that the market started seeing some signs of pick up and revival. Consumers gained confidence that the prices would not decline further and that house and land packages were a good deal to invest in, given the gap between the growing population and limited availability of housing options. It only required the economy to show some signs of recovery for people to start investing in house and land packages again and ensuring good investment returns from the same.