big order at $1.10, page-2

FYI - Article in the AFR.
http://afr.com/p/lifestyle/life_leisure/gold_coast_back_in_property_groove_Q6KbbC0dBJKu6EOTJ7rhmO

"For Bell’s agency, last November experienced a 32 per cent rise in sales volume compared with November 2011. Bell says properties are spending less time on the market, and investment activity is on the rise. But to expect a housing market boom this year will be futile, he warns."

“It’s not like a light switch being turned on where we’re back to supercharge,” he says. “We have found the bottom of the market and I expect there to be sensible, sane growth in values. The world will have to rethink its expectations about returns. They will be far more modest . . . instead of expecting 20 to 30 per cent rises per annum, be happy with 5 per cent.”

The SP seems to have factored in a 15-20% drop in valuations, so given that Sunland is trading at a discount to NTA of more than 50%, I'd be very happy with 5% growth.