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Mirvac profits from housing boom but settlement defaults rise

People & Companies / Latest News

Australia

Feb 16 2017

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Carolyn Cummins and Simon Johanson, The Sydney Morning Herald

The booming housing market has proved a gift to one of Australia's largest apartment developers, Mirvac, whose profits surged 7 per cent in first half of the year, although defaults on its residential settlement have hit 2 per cent as investors struggle to get finance.

The diversified property group has a substantial residential development portfolio which it says will grow its earnings by 45 per cent over the year, after helping it report a first-half profit of $508 million.

Go to The Sydney Morning Herald and read the full story.

SOURCE: The Sydney Morning Herald

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