Australia Housing to Stay Sluggish After RBA Cut, Stockland Says

The head of Australian property developer Stockland Corp. said elevated prices and limited supply remain significant hurdles to home buyers even as demand shows signs of picking up.

“First home buyers want to enter the market — 45% want to buy, but only 32% can afford to,” Tarun Gupta, chief executive officer at Stockland, said in an interview with Bloomberg TV on Wednesday.