Well @Bullsnuts All of this is arguable, but . . . These major...

Well @Bullsnuts
All of this is arguable, but . . .
These major top down factors worth keeping in mind IMO:
1. Demographics - Australia is still ageing and population growing fast - favourable long term view
2. Residential housing prices - market fearful that housing could fall in value or flatline - unfavourable short to medium term view
3. Inflation and interest rates outlook - low rates medium term view

And some bottom up factors to keep in mind IMO:
1. Sales of new units - outlook worsening - partly due to recent scandals - temporary issue?
2. Valuation of the portfolio will reduce with lower growth metrics, and lower new sales. - temporary issue?
3. Death rate is down (we will not get bitter about that - lol) - temporary issue?

And an x factor:
1. Regulatory change fears - the aged care issue has the attention of politicians. Higher than normal risk ATM.

So you can see why the SP has been pressured. If you have a traders hat on you might sell/short on the above, but if you have an investors hat on, it may be an opportunity.