End users are shunning .com because there is just no value left in the extension. Half decent names command crazy prices and there's nothing decent left to hand reg so end users are instead using alternative extensions especially their local ccTLD (after all 95% of businesses only seek trade from within their shores) which has a Google ranking advantage over .com and shows many times better value. Drop in end-user demand necessitates a fall in values (as we have seen over the past couple of years). Com values are only avoiding a real collapse due to the hordes of eager newbie domainers who prop up values by throwing away new money paying too much for domains from seasoned domain holders.
.AU on the other hand has the following going for it:
Juvenile market (trading only been permitted for 3 years) so still yet to hit its investment peak
Constant changes in auDA policy with generally relaxing regulations inject value into the space
National broadband network to be rolled out over next few years
Strong and growing end-user loyalty
Solid growth in registration statistics (year to 04/11 it was 21% compared to 9% for .com) http://www.hosterstats.com/DomainNameCounts2010.php
Strong AU economy underpinning online investment
.AU on the other hand has the following going for it:
Juvenile market (trading only been permitted for 3 years) so still yet to hit its investment peak
Constant changes in auDA policy with generally relaxing regulations inject value into the space
National broadband network to be rolled out over next few years
Strong and growing end-user loyalty
Solid growth in registration statistics (year to 04/11 it was 21% compared to 9% for .com) http://www.hosterstats.com/DomainNameCounts2010.php
Strong AU economy underpinning online investment