New home buyer appetite picked up in the six months to December anticipating lower borrowing costs – which the Reserve Bank delivered on Tuesday – but further monetary easing is necessary to drive a strong boost in demand, Stockland chief executive Tarun Gupta said.
The country’s largest diversified listed residential developer reported a 14 per cent decline in earnings from its core greenfields housing business to $76 million over the six months to December, because of a material skew of settlements to the second half.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
