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1.Market Observations, 8.Was Sticky

26 Oct 2016 (AFR) – Mirvac settlement defaults higher than historical average

(26 October 2016, AFR, p33, by Su-Lin Tan)

‘Leading diversified property group, Mirvac has noted a rise in the default rate for the settlement of off-the-plan residential sales, above its historic average of 1 per cent, but stressed that all defaulted lots have so far been successfully resold. The group, at a first quarter update, confirmed that the higher settlement defaults would not impact the growth targets for the residential division, set to grow by over 15 per cent in 2017.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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