“Any dinner party you go to today, London to a brick real estate will come up in conversation. It’s very Australian; it’s a national sport. People just love it! They love to talk about it, they love to look at it, they all aspire to it: if they have a two-bedroom unit they want a three-bedroom; if they have a three bedroom they want to buy a semi; if they’ve got a semi they want a house; if they’ve got a house they want a bigger house. It’s just this big circle going round and round and round. And it goes the other way: if you make money, you buy property, but if you lose money, you sell property; if you get divorced, you sell property; if you have kids, you buy a bigger property. Upscaling, downscaling, it’s like a flowing creek – it’s a live industry.”
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