Commercial property finance costs and reduced lending availability are crippling residential development as housing starts hit decade lows, with sale volumes down about 40 per cent and many projects unviable. Intrapac chief executive and UDIA national president Max Shifman estimates development finance costs doubled in the past year.
As I told the Australian Financial Review: “If you are trying to get a project off the ground, you have a high hurdle rate”
the Australian Financial Review, 19 April 2023 — Read the full article