I think Q1 2011 is optimistic - still an oversupply and considering the scale of cuts
(a) coming in the next [4?] budget[s], or, more likely imho,
(b) that the IMF are likely to impose
I don't see any economic stimulus in the short to medium term.

FWIW, I reckon 3-5 years before the property market starts moving in an upward trajectory. Qs is how much further will prices fall in the meantime - would not be at all surprised if prices were at their current levels in 5 years time.