Mirvac's 1Q Residential Sales Lack Stockland's Zest -- Market Talk

Dow Jones
2025/10/23

2359 GMT - Mirvac's 1Q residential sales were a little underwhelming when compared to Stockland, UBS says. Mirvac reported quarterly sales of 619 lots, down 1% on the final quarter of FY 2025. Still, analyst Cody Shield believes momentum should improve. UBS notes that 60% of residential lots due for release in FY 2026 will be within updated pricing caps for first home buyers. "The lift in leads and step-up in conditional sales of +153 quarter-over-quarter (from 279 to 432) is encouraging," UBS says. "Sales were +17% quarter-over-quarter, including conditional sales, although we will be looking for conversion in 1H." UBS has a neutral call on Mirvac. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

October 22, 2025 19:59 ET (23:59 GMT)

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