You're not the first to wonder why. High software prices in Australia are the subject of a major investigation by the Australian legislature.
IMHO, I don't think there's any kind of price fixing conspiracy -- the original reason prices climbed in Australia was because of supply-and-demand, and once the prices got high, they just stayed high even after supply concerns were met because publishers like getting money and, on the whole, Australian consumers are willing to pay it.
We'll see if the legislature can do anything about it, but considering Australia's free market principles, I don't think they can. Australia prices for games won't decrease unless consumers begin to band together and vote with their wallets.
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