Stockland lots selling well at Altrove in north west Sydney
Stockland has reported positive results across its business.
Its CEO, Mark Steinert said all of its core businesses continue to make such strong contributions.
“We’ve maintained high sales volumes across our residential business.”
Stockland’s residential business secured 1,706 net deposits in the quarter, with new projects and new townhouse sales helping to generate 279 more sales than the corresponding period in FY15.
Stockland is on track to achieve full year settlements slightly above its target range of 5,000 – 6,000 lots.
“In residential, we’ve seen strong market conditions continue in New South Wales; Queensland is strengthening, generating good demand and strong sales on our new projects; Victoria remains robust and we had a good response to the campaign we ran in Western Australia,” Mr Steinert said.
“Around 90 percent of our residential capital is now employed in projects where sales are underway, up from 60 percent two years ago.
"We’re progressing well with all of the new projects we’ve launched over the last six months.
"We are actively selling lots at Aura and Newport in south east Queensland; Altrove in north west Sydney and we will soon commence sales at Pallara, south west of Brisbane.”
For more information on Altrove, click here.