a startling buy and bought at 4.75, page-55

Stockland boss wants more rates cuts

The head of one of Australia's biggest property companies says the housing market remains tough, but has improved.

Stockland chief executive Matthew Quinn says the interest rate rise in March was one too many and scared potential home buyers off.

But he has told ABC1's Inside Business the market for homes has improved in recent months.

He says more interest rate cuts will improve the situation further.

"The interest rate drop the other day will have a big impact on that, but it won't be the impact that brings them potentially into the market in any hurry," he said.

"I think people need to see evidence of two or three drops and a feeling of job security before they really start to come out of their shell."

http://www.abc.net.au/news/stories/2008/10/12/2388621.htm