Mirvac Group Limited

One, um, about people ditching detached housing for communal housing.

One about for- former Mirvac boss selling his ei- $11 million home.

Poor guy, must be struggling.

One where Peter Fitzsimons asks an economist about interest rates.

So for me... development is um incredibly risky when you have one or two projects right so you've got one two three four projects one gets stuck in planning one doesn't sell as well as you want one's got a construction problem you are dead right when you've got 47 buildings which is what we have if we have five problems it just doesn't matter right those problems will be fixed over time five get stuck in planning if they get stuck in planning i probably wouldn't even know about it today right so now we have this diversity of projects that we can push and pull when the markets are right And so into 2012, I briefed our branding team that I wanted to create our own thing.

And I gave the vision of what Mirvac had done in the early 2000s.

So, you know, that founder there was probably the best, one of, if not the best, Australia's ever had, what he created with Mirvac.

The projects were incredible, amazing vision, incredibly well built, known to be trusted, known the product quality was going to be good.

And they used to have lines out the door.

"Major developer and commercial site allocations.

South West Sydney, the trial for Mirvac," another building, uh, company.

"High-profiler developer Mirvac has initiated a major private sector trial for modular housing construction, specifically targeting greenfield spaces in Southwest Sydney." That's also from, uh, Facebook from Seven News.

"Canterbury-Bankstown Crisis Hub.

The backyard of the Ryani House in Southwest Sydney recently completed an installation of a double storey modular housing project funded via a $2.4 million government package to deliver fast crisis accommodation." That's from shape.com.com.au.

And then one day my boyfriend at the time, now husband, got a job opportunity.

He was working with Mirvac.

So he's a property developer now in the build to rent space.

But at that time, build to rent was a really new concept.

Yeah.

And we took an opportunity to come to Sydney and do built rent for Mirvac.

And I moved up with him and we've never moved back.

So we've been here for circa 12 years.

Take out mining and energy, though, and earnings growth actually drops to around 5.3%.

And while there have been encouraging results from companies like CSL, Cochlear, Super Retail Group, Universal Store, Mirvac, and REA, AMP's Diana Mousina says many were more less bad than feared than signs of outright strength.

Around 36% of companies have beaten earnings expectations, which is actually below the usual 40%.

The good news, though, is that 67% are making more money than they were a year ago, and earnings are currently expected to grow another 10% in FY27.

Um, i- if you, if you were to get a exposure there, where would you go?

Well, Mirvac and Stockland are the, are the standouts in the sector, but, um, for us, the highest quality property stock is Goodman.

And, um, I'd be buying that ahead of either of those two.

Yeah.

I mean, for young people, it's very, very hard for them to be renting and also saving for a house, and then suddenly the tax settings change and rents are gonna go up again.

Yeah, look, all you've gotta do-- The, the developer you're speaking about is a highly reputable and very successful developer, and he's in good company with people like Stockland and Mirvac, who last week have also indicated that they are going to slow the amount of properties that they're building, not build new ones that we were led to believe under the new, um, budget that was gonna encourage, uh, investors to take advantage of new builds.

That's not happening, and you are absolutely correct.

Rents are becoming extremely concerning.

Uh, number two, the rate rises are, are certainly reaching housing.

NAB, Stockland, Mirvac all gave us evidence of either weaker residential demand or less, uh, demand for, for, uh, home lending specifically, particularly in New South Wales and Victoria.

Really no surprises there, but we've now had it confirmed, and it is worrying for what it means for the future.

Three, three, number three, there are still pockets of remarkable strength.

The market finished the day down only by about .2 of a percent.

Medical supplier EBOS Group, property developer Mirvac, and the construction business Fletcher Building all lifted after their earnings results today.

Canadian-based iron ore miner Champion up as well.

And CSL, it kept lifting after its positive results yesterday.