It has been a very tough year for property. Floods, tsunamis, earthquakes, 3 new taxes (flood, mining and carbon tax), sovereign debt crises and even a serious US debt limit crisis not yet resolved have hit confidence worldwide. In Australia, consumers have turned to savers and retailers, house builders, inbound tourism and especially manufacturing are all affected.
2012 should see an improved real estate market in NSW. There is pent up demand from population growth and supply of new housing is at record lows. In Spain and Ireland there are millions of empty new houses. We can sell any house if the price is right!
Merry Christmas and a Happy New Year!