So people should be buying existing houses – steady prices, increased income

• RP Data-Rismark Home Value Index in December reported that capital city home values declined by 0.4% over 2012 [despite inflation of 2.5%]
• Over Christmas RP Data reported that Australians for the past five years have been saving 10% of their income, reversing a 30 year trend – more cash available
• However the Melbourne Institute Consumer Sentiment Index reported that consumers have not ‘rushed back’ into the market in January - and this was before the Federal election date of September was set; elections historically damage housing markets. This could be a dampener
Summary – we need just 2.5% penetration of our target market to soak up all available stock, and the cash and dynamics are there. The consumer just needs to understand the village accommodation proposition – and have clear, transparent contracts.