“Settlements are running in line with pre-COVID levels, it’s been sales where we’ve seen the real slowdown with the restrictions on people’s movements,” chief executive Mark Steinert said.
Prior to the virus outbreak, Stockland had experienced a promising…Home buyer slump puts pressure on Stockland
Home buyer slump puts pressure on Stockland
Australia’s extended lockdown and sudden halt to migration are undermining diversified developer Stockland's strong start to the year and threatening earnings from its land estates and retail portfolio.
Stockland, the country’s largest house and land developer, is a bellwether for home buyer sentiment but its strong pre-virus home buyer-driven recovery has come unstuck in the pandemic, with its retail portfolio also hard hit by the COVID-19 outbreak.
A Stockland housing estate being built in Melbourne. Credit:Erin Jonasson
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