some more cold hard facts, page-9

And some more.

Had a few nights in an two bed apartment in a 100+ block on the gold coast. Two sales last November of over a million. No sales this year so far, five units on the mkt from $750k to $1.1m. The manager said "it's not that they are overpriced, just that no-one is willing to pay that much at the moment." Holiday lettings were still below GFC levels at Xmas, before the floods and cyclone, and now Japan. "there seems to be a lot of fear out there, prices of everything are going up". By not booking until two days before going, we got another 10% off already discounted prices (the manager meant prices of food, petrol, electricity etc. - not holiday accommodation!).

Beach front shops seemed OK, but go back a couple of streets, and things have worsened over the last eighteen months, according to one shopkeeper. More and more closing down, she thinks she could be next.