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Rate rise could derail property recovery
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The .25 percent interest rate rise announced by the Reserve Bank will create a further obstacle to a recovery in the building and construction industry, according to national property and construction consultants Davis Langdon.
Davis Langdon managing director Mark Beattie said the RBA’s decision would further hinder developers struggling to finance new large scale projects. “The latest decision is inconsistent with the concept of stimulating the economy,” he said. “The rise will only widen the gap in the building and construction industry with demand increasing but supply still remaining largely unfunded.” * For further information, contact Barney Murray at Promedia Public Relations on 07 5593 2011 or
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