We have seen the figures, now we are hearing it first hand from the industry. It’s reporting season and Matthew Quinn, managing director of property developer Stocklands has said the property market is the worst in 20 years.
“The market, 20 years ago, was 20 per cent stronger than now. We believe the structural change will be with us for some time to come,” said Mr Quinn.
It appears to be an honest and frank assessment of the market with his mention of structural change.
» Property market ‘worst in 20 years’: Stockland’s Quinn – The Sydney Morning Herald, 8th August 2012.
» Housing market weakest in 20yrs: Stockland – The Australian, 8th August 2012.