Prudential Finance has available development finance – Sydney Melbourne, Brisbane & Perth.
STEINERT TIPS GOLDEN DECADE FOR SYDNEY Stockland chief executive Mark Steinert has denied claims national house prices have peaked, arguing some cities are on the cusp of a “golden decade” of price growth.
Mr Steinert the chief executive of Australia’s largest residential developer believes there is an undersupply of housing in capital cities and anticipates a 4 to 5 per cent compounded growth in house prices for the predicted future due to this demand-supply fundamental. Housing supply will increase with major roads and infrastructure projects, in conjunction with accelerated land releases and planning changes in specific areas.
Morgan Stanley economist Malcolm Wood told investors in a note the current housing cycle was in danger of being held back, if interest rates weren’t cut again. “If you’re an investor, you’ve missed the boat,” Mr Wood said, with a potential oversupply of apartments decreasing their value in inner-city areas and house price growth slowing down.
However Mr Steinert remains positive, with factors such as improved business confidence, greater job security and including migration flow (Australia’s population increases by approximately 34,000 in a month from migrant) adding to the demand of dwellings. Stockland delivers around 5000 homes a year.
The property market in Sydney, Melbourne and Brisbane should show positive growth for the foreseeable future. Property developers have a stable property and finance market to operate in at the moment. Prudential Finance will provide property developers with competitive development finance, mezzanine finance and also joint venture select property development projects.
Call Prudential Finance 1300 550 669
