REAL ESTATE INVESTMENT TRUSTS & FUNDS
INVESTORS wanting to position for a recovery in residential volumes and earnings are best to put their money in apartments...
In a note entitled Not your average resi cycle, UBS analysts Tom Bodor, Grant McCasker and Cody Shield said they...
“COVID saw government stimulus and ultra-low interest rates drive extreme resi demand but production lagged impacted by...
The three key themes were headed by affordability, with mortgage repayments typically 20 to 30% of income but now approaching a record 40%0plus as...
Demand was also identified, with immigration of 387,000 in 2023 – well above the long-term average of about 200,000 keeping rental...
In addition, they expect production challenges to remain, with no rapid normalisation of approvals to over 100,000 houses due to...
“Should demand weaken from here, there is less ability for governments to stimulate via incentives or interest rate...
The UBS analysts said higher rates have deferred a land recovery against its previously positive view with “continued production...
In build-to-rent, they see “significant medium-term volume growth potential” (five to 10x from a low base), with returns to be...
Meanwhile, manufactured home estates will benefit from cost-of-living pressures causing retirees to consider downsizing, and...
UBS said its Stockland and Mirvac earnings forecasts have moved 5% lower in FY24/25, reflecting a slower recovery for land sales and...