Message from the Managing Director
7 July 2021
Strong sales conditions continue to prevail across the four states in which Cedar Woods’ high performing projects are located. In response, we are accelerating the release of new project stages to capture the consistent demand from new home buyers.
Our quality portfolio has driven the Company’s presales to $439 million (as at May 2021), which excitingly, is a new record for Cedar Woods. This solid sales performance can be attributed to the diversification and quality of our product combined with the government stimulus the housing sector has benefitted from across the nation.
Even though the stimulus has ended, new purchasers do not seem disheartened and buyer confidence remains buoyant. With record-low interest rates, forecast price growth and increasing rental yields, the current favourable market landscape is expected to endure for some time.
Over the next few months, we will continue to release new stages across the Cedar Woods portfolio to extend our sales momentum and underpin the Company’s revenue growth in future years.
We continue to build out our pipeline of future projects recently acquiring a 40.7 hectare site in South Maclean, south west of Brisbane. With approvals already in place, this land will accommodate 500 residential lots plus a childcare centre.
Backed by record presales and a pipeline of more than 8,800 lots/units Cedar Woods is making the most of these favourable market conditions and we are excited to present a steady stream of quality product to the market over this next quarter.