Property giants sell land amid slower market

Original article by Ben Wilmot, Elizabeth Redman
The Australian – Page: 25 : 26-Oct-18

Residential developer Stockland is targeting over 6,000 settlements in 2018-19, but it only achieved 1,030 in the first quarter. Stockland and fellow developer Mirvac are targeting first-home buyers, but both are worried about Labor’s policies on negative gearing and capital gains tax, as well as the tightening of credit. Mirvac is selling a land site at Ingleside in Sydney, while Stockland has put its The Grove Estate project in Melbourne’s west on the market.

CORPORATES
STOCKLAND – ASX SGP, MIRVAC GROUP – ASX MGR, AUSTRALIAN LABOR PARTY, UBS HOLDINGS PTY LTD, BIGGIN AND SCOTT PTY LTD, CLSA AUSTRALIA PTY LTD, CBRE PTY LTD

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