Residential developers see first sign of green shoots


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“There are clear catalysts for an improved outlook, being the re-election of the Coalition government, a review of regulations by the Australian Prudential Regulation Authority, APRA, and potential rate cuts by RBA, but also reasons to reduce global names, with the US-China trade dispute and Brexit,” the analyst said.


“Australian housing names have outperformed since the election, and if house prices do rise as expected, an upgrade cycle should support the stocks over the next year.”


Since the May 22 APRA announcement Stockland and Mirvac have seen a rise in share prices.


The analysts said they would tend to buy the dip in housing related stocks in 2019. Upcoming results may still be weak, but forward comments should reflect an improving outlook.


Mirvac’s chief executive, Susan Lloyd-Hurwitz, said during the week that there had been evidence, post the federal election, of interest returning to the residential sector.


Article source: https://www.smh.com.au/sport/racing/race-by-race-guide-and-tips-for-hawkesbury-20180919-p504nx.html?ref=rss&utm_medium=rss&utm_source=rss_feed

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