’Too many things have gone wrong’, says Harry Triguboff
Property billionaire Harry Triguboff says the government won’t be able to fix the economy’s many problems without interest rates staying low for at least five years.
Multi-billionaire property developer Harry Triguboff expects interest rates to remain at historically low levels for at least the next five years.
On Wednesday Mr Triguboff called on the federal government to highlight the low interest rate environment to the wider community adding that this would give people confidence to buy real estate.
Earlier this week the Reserve Bank slashed interest rates to an historically low rate of 0.5 per cent in a bid to counteract the effects of the coronavirus.
“If they don’t keep interest rates low, the government can’t get the economy to improve, as too many things have gone wrong.”
The Meriton Apartments founder says the interest rates will stay very low as the government is forced to address the weak economy. “If they don’t keep interest rates low, the government can’t get the economy to improve, as too many things have gone wrong,” he said.
Mr Triguboff has just won approval to build a further 1270 apartments at Sydney’s Macquarie Park. All up, he is constructing around 3500 units in Sydney and the Gold Coast.
He described himself as ‘lucky’ that he had not run out of Chinese-made building products for his apartment complexes, and predicted the coronavirus would be around for months.
Property market a buyer’s dream as spring fever hits
Homeowners are flooding the housing market with new listings at the fastest rate for the peak spring selling season in almost a decade.
Rick Stein’s NSW restaurants part of Salter Brothers stable
The $2bn Melbourne-based funds manager has paid more than $100m to purchase three Bannisters resorts which house two chic seafood restaurants operated by the world-famous British chef.