news

Areas of demand exist in current market: Mirvac

By webmaster

A leading property developer does not expect a correction in the residential property market, saying that demand is still strong.

At the Mirvac Group annual general meeting yesterday, group chairman James MacKenzie said that despite house price declines in some international markets, a significant correction was unlikely to occur.

Highly attractive areas of demand in the market currently remain, Mr MacKenzie said.

"Residential property demand is underpinned by an increasing dwelling shortfall and is supported by low unemployment,” he said.

"Nationally, it would take, in our view, around one and a half years of current housing production just to eradicate the shortfall.”

As of this week, Mirvac holds preferred tenderer status for the new development of Karratha, WA.

It is anticipated that construction, expected to develop this mining town into a city of 50,000 people, will commence in 2013.

Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.
Opps.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Location
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
BLUE BAY 49.18%
2.
PAMBULA 43.5%
3.
BERKELEY VALE 42.74%
4.
POINT PIPER 40.52%
5.
NORTH TURRAMURRA 38.12%
Areas of demand exist in current market: Mirvac
SPI logo