News: CSR says migration will help housing

.

CSR Limited’s (ASX:CSR) chief, Rob Sindel, has expressed his reaction to the 2011 federal budget.



He says a rise in skilled migration to meet the needs of the resources boom, will also help to lift demand for housing.

He has also predicted 150,000 housing starts in 2012, in light of weak consumer confidence and fears of higher interest rates deterring buyers.

In February, CSR returned $800 million to shareholders, having completed the sale of Sucrogen and its Asian business.



Meanwhile, it reported a profit of $534 million for the full year to March 31, 2011.