| Prospector’s Corner |
| The headlines that matter |
| MacroBusiness argues the average dwelling just crossed $1M nationally - and the gap between borrowing power and house prices has to close somehow. MacroBusiness |
| RBA March minutes reveal the 5–4 rate hike to 4.10% was the narrowest vote since individual disclosures began. RBA |
| ABS building approvals surged 29.7% in February on a 101.2% apartment rebound - but cumulative approvals still run 19% below the Accord target. ABS |
| SQM Research shows a listing avalanche in Sydney and Melbourne - highest volumes since late 2021 - while Perth sits 48% below the five-year average. SQM Research |
| Stockland formalises a 50:50 data centre JV with US operator EdgeConneX. Up to 10% of capital now allocated to digital infrastructure. HSF Kramer |
| Landlords racing to buy ahead of expected CGT discount changes in the federal budget. Analysts warn of a 60-day frenzy before the new financial year. Yahoo Finance |
| Reece / Iplex confirm petroleum-based pipe prices surging from April 17: HIA warns fuel prices could add $8K–$15K to the cost of a new home. SmartCompany |
| In the Boardroom |
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An internal Iplex email to Reece Plumbing customers - not meant for public consumption - has been circulating among builders this week.
It lays out the price hikes landing April 17: PVC up 27%, polyethylene up 36%, polypropylene up 31%. These aren’t discretionary materials. They’re in every wall, under every slab, in every stormwater system. A 30% average increase across petroleum-based materials at a time when construction insolvencies just hit a record 3,596 for the year and builders are locked into fixed-price contracts written at last year’s input costs. (feels like COVID all over again...) Behind the scenes, we’re also hearing mid-tier builders on the east coast are quietly shelving projects that were greenlit at $3,200/sqm and now pencil out closer to $3,800. |
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Know a deal, a story, or a property hot take we missed? Hit reply. |
| For the Data Nerds |
| The numbers behind the headlines |
| No clearance rates - Easter break for the data nerds too. So instead, we went digging. Here’s the week in numbers that matter. |
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| On the Market |
| ASX Property Weekly Wrap |
| REITs |
| Charter Hall (CHC) ▲ Operating earnings up 21.6% to 50.5c. FY26 guidance lifted 6% to 95.0c. The market liked it. PropertyMarkets |
| Goodman Group (GMG) ▼ -15.7% YTD Data centre pivot narrative meets reality - power constraints and rising rates taking the shine off. Trading at $25.46 vs analyst target of $35.13. Goodman Investor |
| National Storage (NSR) 🔎 Scheme vote looming in April for the Brookfield-GIC takeover at $2.86/security. If approved, delisting follows. Last dance. REITSWEEK |
| Dexus (DXS) ▼ -17.2% YTD Trading at $5.99 with consensus target at $7.10 - 18.6% implied upside. But with office headwinds, the market isn’t buying the discount. PropertyMarkets |
| Developers |
| Stockland (SGP) ▲ Busy week: EdgeConneX data centre JV formalised and a $500M Downer EDI facilities management contract locked in. Trading at ~$4.82. Capital Brief |
| Lendlease (LLC) 🏗️ Appointed to develop the $2.2B Hunter Street Station precinct with Mirvac. A major CBD pipeline win. But still trading at $2.24B market cap with a CEO on the way out. Property Update |
| Property Services |
| REA Group (REA) ▼ Hit lowest levels since 2023 as the sell-off deepens. On-market buyback underway. 1H26 dividend of $1.24 (100% franked). Trading at ~$156.42. PropertyMarkets |
| Settlement Day |
| Major deals and M&A |
| Woolworths sold 10 neighbourhood shopping centres to Taiwan’s Forest Endeavour for A$500M+. Metro and satellite markets from QLD to Tasmania; Woolworths stays as anchor tenant. The Urban Developer |
| IMG Hotels sealed a A$160M deal for Tamworth’s premier pub portfolio - four iconic venues including The Longyard Hotel. One of the biggest regional pub transactions in recent NSW history. Australian Hotelier |
| Wagners / Ascot Capital - three QLD warehouses with leasebacks for A$43M at 6.4% yield. Combined 5.9 hectares, ~15-year WALE. Real Estate Source |
| Macquarie Asset Management circling a 50% stake in Victoria’s land title registry (SERV). Indicative bids in April. Value: ~A$4B. Bloomberg |
| Charter Hall picked up Southport Park Shopping Centre on the Gold Coast - 19,900 sqm, mixed-use zoning upside. Value: A$152.5M. The Urban Developer |
| Downer EDI / Stockland - five-year integrated facilities management contract from August 1. Value: A$500M. Capital Brief |
| Stockland & EdgeConneX - 50:50 data centre JV formalised. Up to 10% of Stockland capital to digital infrastructure. Value: undisclosed. HSF Kramer |
| What’s Settling Next Week |
| Forward look |
| Tuesday, April 7 - ABS Monthly Household Spending Indicator (February 2026 reference period). Consumer spending pulse check ahead of rate decisions. ABS |
| Wednesday, April 8 - ABS Building Activity (December 2025 quarter). How much of the approvals pipeline actually made it to site. ABS |
| Friday, April 10 - ABS Building Approvals (February 2026). After the 101% apartment surge last month, all eyes on follow-through. ABS |
| Social Media Fix |
| What the internet is arguing about |
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