Stockland Says More Supply to Temper Australia Home Price Gains
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Stockland, Australia’s biggest diversified property trust, said rising housing supply in Australia’s state capitals will help temper price increases that have accelerated in the cities since the start of the year.
“Inner city markets generally have strengthened considerably and that’s all about supply constraints,” Mark Steinert, chief executive officer of the Sydney-based company, told yesterday’s Inside Business television program according to a transcript. “You are seeing apartments and high-density coming in to address that demand in a lot of the capital cities, particularly in Sydney and Melbourne and Brisbane, so I think that will even see some tempering.”