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Property investor Mirvac Group (ASX:MGR) has announced pre-sales have reached $879 million since 30 June, representing a 25 per cent increase.
Managing director Nick Collishaw says strong sales results continue for Mirvac's fast-tracked residential projects allowing the group to meet market demand for build-form product.
Since 30 June this year Mirvac has released two fast-tracked residential projects in Victoria which have delivered $105 million in exchanged contracts.
The group advises it is set to release two more fast-tracked residential projects by the end of the year in New South Wales and Queensland.
Mr Collishaw cautions bank variable mortgage rates will impact affordability, especially in the first home buyer segment.
However, the group remains confident that its strong sales results show an active buyer profile.
Mirvac will provide a further update on its two core divisions, investment and development, on 11 November.
Mirvac Group moved into the black in fiscal 2010 to post a profit of $237.4 million.
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Last
$2.18 |
Change
-0.025(1.14%) |
Mkt cap ! $8.996B | |||
| Open | High | Low | Value | Volume |
| $2.19 | $2.20 | $2.17 | $3.962M | 1.818M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 63 | 151365 | $2.17 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.18 | 108318 | 61 |
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| Last trade - 13.59pm 29/11/2024 (20 minute delay) ? |
| MGR (ASX) Chart |
