2252 GMT - Stockland loses a bull in Morgan Stanley, as speculation builds that Australia's central bank will raise interest rates several times this year. MS says possible changes to the capital gains tax discount and negative gearing for investors in property are additional headwinds to sentiment. Analyst Lauren A. Berry notes similar policies were suggested in 2018/2019, and led to an on-year fall of some 40% in residential pre-sales for Stockland and Mirvac. This year might be better as 2018/19 coincided with foreign buyers exiting the market. Still, MS says "the negative sentiment could manifest in lower pre-sales, leading to risks around settlement expectations in FY27 and less lucrative earnings growth." It notes consensus expectations are for settlement of 8,580 residential lots in FY27.(david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 15, 2026 18:52 ET (22:52 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.