The demand for housing is still pretty strong hence the strong...

The demand for housing is still pretty strong hence the strong prices for existing RE . I think the change of govt will play in part a change in this market . The problem in NSW is more the fact that the profit in property development is nowhere near what it used to be . The state and local approval processes are a f*^#*%g joke. By the time you get a backhoe"s shovel in the dirt there's no profit left - that's if your sanity is steely enough to deal with the red tape .

There's other stocks like Alesco that weren't as broadly aligned to the market like GWA and they got gobbled up by Dulux. GWA need to further vertically integrate with a broader range if their SP is to move that dollar or two higher . Evasive action like merging divisions like hot water and sanitary ware is good in the short term but is only a bottom line cost initiate rather than an innovative strategic long term strategy with legs !!