House prices to increase

House prices should recover thanks to the ongoing shortage of residential dwellings, Lend Lease chief executive Steve McCann has claimed.

Speaking to ABC television’s Inside Business, Mr McCann said the general shortage of housing in Australia gave him confidence that the downturn in the housing sector would soon ‘bottom out’ and start to recover.

“We don’t see massive pressure on prices, and it will take some time for the economy to get back into full swing, and that should result in the right sort of balance there,” he said.

House prices should recover thanks to the ongoing shortage of residential dwellings, Lend Lease chief executive Steve McCann has claimed.

Speaking to ABC television’s Inside Business, Mr McCann said the general shortage of housing in Australia gave him confidence that the downturn in the housing sector would soon ‘bottom out’ and start to recover.

“We don’t see massive pressure on prices, and it will take some time for the economy to get back into full swing, and that should result in the right sort of balance there,” he said.

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