Queensland:
- Suffered the greatest slowdown and the mildest recovery to date
- Difficult investment climate; government levies increasing
- New housing starts remain below underlying demand
Stockland's apartment division
Further urban consolidation is inevitable in order to meet the Federal Government’s stated population growth targets
However, Stockland’s Apartments projects have not delivered appropriate returns in recent years:
– Wrong style of project (e.g. high end lifestyle, non urban) that did not reflect our core markets and strengths
– Planning blockages significantly impacted speed to market
Further apartments projects will only be considered as part of mixed-use projects which play to our diversified asset class capabilities:
– Working closely with government approval authorities to resolve planning and delivery blockages
– Focus on right product / place / price with significant amenity and convenience
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