There are many negative stories at present about the housing market. For example, "Gloom Returns to Housing Market" (but is Queensland the only bright spot?) and "no housing shortage".
Many pundits say employment growth drives property growth, and unemployment causes property prices to fall. If that is the case, then Brisbane is heading for a property slump, due to massive Queensland government lay-offs.
Talking to taxi drivers and shopkeepers in Brisbane, in a very unscientific survey, it seems that business is very bad, and when good, is patchy.
It will be interesting to see what happens in September.