Ash, what i heard, from someone who's in property development in Melbourne, is that due to the recent changes in property ownership in Australia, those area favoured by Asians, aka PRCs, like Box Hill, Doncaster etc, the property prices have softened, some by as much as 10%. and from what i've been observing in Sydney, it's stabilizing as well. With Ftich throwing another spanner in with regards to Spain & the Euro, i think best is hold cash now. i'll be eyeing the mkt for a while.