26 Oct WE HAVE A NEW PRIME MINISTER!

We believe that we are now in safe hands and are optimistic that the right policies will be undertaken to re-establish stability in the economy.

Some of this will undoubtedly be painful, the fundamental remedies will be to increase taxes and to cut expenditure, but we trust that this will be done fairly and with compassion.

The immediate benefit to the housing market, both sales and rentals, will be a likely reduction in interest rates and with the financial market stabilised and the exchange rate recovered, this will provide a platform for continued activity in the housing market.

We will keep a close eye on developments and report our thoughts and conclusions in due course.