A run of record low interest rates means the housing market is in for a dream run for some time, property group Mirvac says.

Mirvac and rival Stockland are both predicting strong house-price growth for at least another two years, largely because of low interest rates and an undersupply of homes. “We believe we are in a longer cycle fuelled by lower for longer interest rates,” Mirvac chief executive Susan Lloyd-Hurwitz said. “The residential…