Similarly, I have some involvement in the insolvency industry and gold coast in particular and your comments are spot on. The view in the OP of it being the council's fault is ridiculous - all the developers know the market is completely oversupplied with vacant apartments. Looking to build more right now would be the textbook definition of stupidity.
Oh and try and get a bank to lend money on a Gold Coast development. They will push you out the door faster than a Tony Abbott backflip
