Quick reply:
In a nutshell, Brisbane is looking good and the Gold Coast is even better. But get out of the GC a year before the Commonwealth Games, as we have discussed here already.
Again quickly, there is a higher possibility that we are likely to start improving economics in Qld than the possibility that we are going to get worse. Prices may still fall more, but it is more likely they are on the verge of increasing. No rush to buy at this immediate time but look at it. Steve seemed to speak generally about Brisbane rather than the state as a whole. He also spoke briefly about mining towns, comparing them to a length of elastic and the pain caused when elastic rebounds after a protracted stretch. He suggested they are not buy and hold but rather buy and get out before the next bust, along with the Gold Coast.
Statistically, we have steady unemployment figures, easening of lending criteria, reduced falls in quarterly median house price figures after the larger falls in 2011 almost flattening, and following the election last week, the likelihood of improved business and consumer confidence.
He stated Perth, Adelaide and Brisbane are the most likely capital cities to start recovering whereas Melbourne and Sydney are at a different level on his graphs and not likely to show imminent recovery.
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I have a high respect for Steve and his ilk, hence it is really scary having the responsibility of doing this accurately, even though I regularly summarise large amounts of text in my day job.
