Property values?
We attach too much emphasis to the values of houses. If you only own one house (the one you live in) then its value is of little importance to your retirement wealth. Yes, it may be "worth" $100,000 or $200,000 more than you paid for it (warm fuzzy feeling) but it is producing no income. Any other house you move to is also worth more/less so the gain is on paper only. People like to put their house on their personal balance sheet as it makes them feel wealthy. Aha, we say, but when the time comes to downsize, we can release the capital to earn additonal income in retirement. But the reality is that the 30 year old family home needing modernisation barely gets enough money to buy into a smart 2 bedroomed unit. So I say, who actually cares if the property market is up or down, unless you are a first time entrant?
Obviously, this does not apply to the investment properties you might own.