Is the housing market down for investment property australia too??

So, I kow that the housing market has been down in The United States, and it is causing a lot of confusion for me. i am unsure if I should go ahead an invest while the market is low so that when it comes back up I can sell… The question is, will it be back up in my lifetime, my children’s lifetime, my children’s children’s lifetime so that it would be a worthy investment, or am I better off looking for investment property australia? Are they in just as much of an economic plummet as we are? I would like to invest, but I want to do so intelligently.