Australia’s housing downturn is hurting a broad network of businesses that depend on homes changing hands, with the main damage coming from lower transaction volumes rather than sharply falling prices. Home prices are down less than 4% from their March peak but remain above year-ago levels, while housing turnover has fallen 15% since June from a year earlier. A Reuters analysis estimates the decline is removing A$355 million to A$710 million ($253 million to $505 million) in monthly spending from property-related businesses. Cotality data show turnover remains 10.5% below its five-year average, implying A$2.8 billion to A$5.6 billion less annual spending. Higher interest rates, reduced property tax concessions and new anti-money laundering compliance requirements are adding pressure. Businesses are cutting hours, reducing inventories, closing offices or considering mergers, while corporate earnings and industry membership are also weakening.