The CEO of property listings portal, REA Group, has lambasted APRA’s macro-prudential curbs and state governments’ foreign buyer stamp duty surcharges for causing a “manufactured” collapse in property sales:
The News Corp controlled property listings portal’s first quarter trading update on Friday revealed a 9 per cent decline in revenue after broker commissions fell to $202.3 million and a 14 per cent fall in earnings before interest, tax, depreciation and amortisation to $114.9 million…
“It’s about as bad as it can get … It’s the worst market we’ve ever seen,” Mr Wilson said…
