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Australian property sector crawls along in residential development

Posted on 15 February 2013

The largest-listed residential developer in Australia, Stockland Property Group, has announced a first half year statutory loss of 147 million Australian dollars ( 151.4 million U.S dollars) on the back of impairments in its residential book, becoming the latest listed property trust to suffer the ill-effects of Australia’s problematic housing market.
This is a staggering number that says a lot about the lackluster status of the residential development market in Australia since the global financial crisis………………………………………..Full Article: Source


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