Highrise Harry slashes prices as property demand “a complete disaster”

Monday, 14 May 2018

Billionaire apartment developer Harry Triguboff has brought in a raft of measures to halt weakening sales in a market he says is “getting worse”, while other developers including Stockland CEO Mark Steinert are also feeling the squeeze.

Mr Triguboff, founder of Meriton, has increased commissions to real estate agents, is covering buyers’ stamp duty and increasingly lending to buyers.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.