Stockland sees rise in house and land package sales

The number of residential sales completed over the September quarter increased 8 per cent

Stockland sees rise in house and land package sales
Stockland sees rise in house and land package sales

Stockland has seen increased demand for house and land packages within its communities.

The September quarter saw an 8 per cent increase to 1,947 lot sales compared to the same period last year.

Stockland’s new chief executive and managing director Tarun Gupta told his first annual general meeting that it was "strong residential sales momentum with new inquiries remaining elevated."

There was a "depth of unsatisfied demand." There were over 14,000 inquiries taken in the September quarter.

It noted there had been temporary construction shutdowns during the quarter. 

Gupta noted the shortage of timber had eased.

The developer is restocking its land holdings, with around 5900 lots acquired including 1400 lots across Victoria and 4100 lots in Western Australia.

Last month Stockland announced the acquisition of two future precincts of the NSW Clydesdale estate in Sydney’s strongly performing north western growth area.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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