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clock Created with Sketch. 02/11/21
13:23
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Originally posted by Newbietrader123:
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I don't think the market liked the report... lower lows. The chart on this company is horrible - lower lows and lowers highs. “Supply constraints and cost pressures are becoming widespread across the industry, however cost increases have mainly been offset by price rises to date, with residential property markets remaining buoyant,” managing director, Nathan Blackburne said. "DEVELOPER Cedar Woods has recorded 39% year-on-year growth in pre-sales contracts to $460 million in the September quarter, as it awaits the return of migration to alleviate skills shortage and boost population growth.About 45% of pre-sales are expected to settle in the current financial year, with the balance contributing to earnings in FY23 and FY24."
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Also with reports like the below article of the housing market start cooling - in particular Perth being the first State to show a decline in values - this would very much affect CWP profits, given its extensive landholding and amount of revenue/lots sold in Perth/WA.https://www.theurbandeveloper.com/articles/storm-brewing-over-australian-housing-market?utm_source=TUD+-+Daily+Briefing&utm_campaign=9d3354135e-EMAIL_CAMPAIGN_2021_08_11_01_49_COPY_01&utm_medium=email&utm_term=0_982c36d415-9d3354135e-195766334
(20min delay)