by Chris Becker
The real estate developer behemoth Stockland announced its full year results to the market this morning, with a slight dip in profit but reported increasing revenues of 10%, up to $2.3billion. The reduced profit was only due to its sale of Australand and is not reflective of the underlying performance which continues to power ahead as land values soar!
This infographic from the report suggests 10% land price growth in NSW – absurd, but there it is – while Stockland remain optimistic about the oversupplied Victorian situation. The Western Australia volumes are falling as to be expected as the surplus from the mining boom is taking a while to clear itself.