The country’s largest listed diversified developer said sales picked up in the March quarter, but lower borrowing costs were needed for the housing market to pick up.
Already a subscriber?Property developers Stockland said new home sales jumped 18 per cent in the three months to March from a year earlier. New inquiries were up “strongly” even as it said the trajectory of interest rates and the key Victorian market held the key to any further improvement in its residential business.
The company narrowed its settlement guidance for the year to 5300-5500 homes from the 5200-5600 range it, but cautioned that the outlook was subject to any material change in market conditions. , rather than down – has cast a new cloud over a national housing market that was showing some signs of recovery., and be the first of as many as three, according to independent economist Warren Hogan – could throw out housing market expectations for many individual buyers, as well as the country’s largest developers.
Improvements in the established housing market supported sales of homes at the company’s land lease communities business, which sells dwellings to downsizing over-55s who pay rent for the land their home sits on.“In land lease communities, net sales volumes of 104 homes and strong enquiries in 3Q24 reflected the launch of five new communities over the financial year-to-date and support from improvements in the established housing market,” the company said.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stockland and Ampol rev up superfast EV charging stationsProperty landlord Stockland has joined forces with fuel supplier Ampol to roll out AmpCharge fast and ultra-fast electric vehicle charging infrastructure.
Read more »
Stockland and Ampol rev up superfast EV charging stationsProperty landlord Stockland has joined forces with fuel supplier Ampol to roll out AmpCharge fast and ultra-fast electric vehicle charging infrastructure.
Read more »
Former NAB CEO Andrew Thorburn appointed as CEO of HammondCareAndrew Thorburn, former CEO of NAB, has been announced as the new CEO of HammondCare, an explicitly-Christian aged care group. This appointment comes after Thorburn faced backlash for his affiliation with a socially traditional Christian church during his tenure at Essendon.
Read more »
Sanjeev Gupta’s GFG Alliance drags its heels on paying Greensill Capital debtsSanjeev Gupta’s global steel group has not yet paid any of the $900 million it owes to the collapsed supply chain finance firm, despite another debt deal in March.
Read more »
ABY ASX: Adore Beauty CEO Morton to step downThe online beauty retailer is on the hunt for another CEO after Tamalin Morton flagged plans to exit in September.
Read more »
Scott Farquhar to resign as joint CEO of AtlassianCo-founder leaving ‘to spend more time with his young family, improve the world via philanthropy, and help further the technology industry globally’
Read more »