mirvac sales jump 30%- 1 mill price tag

omg, what is this, 30% jump in sales in the march quarter,
and the average price tag is 1 million each....
oh well obviously not the bears in there....
and very different to our spruikers of armegeddon on this site...
extract only.....

LEADING property group Mirvac took deposits for $1.1 billion worth of residential sales in the third quarter -- 30 per cent higher than in the December quarter.
To date, the company has settled on 1507 residential sales, leaving 193 lots to be sold before the end of the financial year, managing director Nick Collishaw said yesterday as he updated the market on its third-quarter performance.

Mirvac forecast total settlement of 1700 residential sales in the current year.

Mr Collishaw said the housing market was tough, but demand was still strong for houses in the right location and priced to meet the market.

As an example, he pointed to the rush for apartments at Mirvac's newest residential apartment, ERA in Chatswood, on Sydney's north shore.

He said the company exchanged contracts for $273.5 million worth of apartments on the weekend after the project was launched earlier this month.

Mirvac locks in $2bn of unit work The Australian, 23 Mar 2011
Mirvac boss takes 25 per cent pay cut Courier Mail, 22 Feb 2011
*******Buyers snapped up 94 per cent of the 295 apartments -- with an average price of $1m -- in the 42-storey tower, which is due for completion in 2014. Mr Collishaw said presales, such as those at the ERA project, would position the group for earnings recovery in 2013 and 2014.

http://www.theaustralian.com.au/business/property-group-mirvacs-bounce-in-residential-sales/story-e6frg8zx-1226057822580