News

At the recent UDIA (Urban Development Institute of Australia) meeting in June 2024, State Treasurer Stephen Mullighan MP and Westpac Group Economist Jameson Coombs highlighted positive developments in South Australia’s urban development sector. Key highlights include:

Growth in Housing:

• Approx. 12,500 homes are currently under construction, with 17,000 more approved and awaiting commencement.
• Despite challenges, there is confidence in the industry’s growth trajectory.

Improved Supply and Challenges:

• Material supply shortages have significantly eased.
• Ongoing efforts are addressing persistent labour shortages.

Enhanced Incentives for Buyers:

• Extension of the $15,000 first homeowners’ grant.
• Removal of the stamp duty for all home and land sales, benefiting buyers across all market segments.

With improved material availability, supportive incentives and sustained housing demand, South Australia’s urban development sector is poised for a robust future.

Aspen’s co-chief executives, John Carter and David Dixon, highlight innovative solutions to Australia’s affordable housing crisis, demonstrating how corporate involvement can effectively address high construction costs and rental prices. Their latest project, the Maylands apartment complex near Perth, exemplifies their approach to low-cost, sustainable housing.

Read the full article from AFR here.

With a large majority of Australian’s feeling the pinch with rental crises, Aspen Group is proud to launch our property at Guildford Road, Maylands.

Read the full article in the PerthNow paper here.

We are thrilled to announce that Aspen’s operating and financial results have exceeded expectations for 1H FY24.

This success is a testament to the continued strong demand for Aspen’s quality accommodation offerings, and despite the challenges presented by the current economic climate, our commitment to excellence and customer satisfaction has allowed us to thrive.

Click here to read the Results Announcement.

Aspen Group is excited to share its inclusion in the A-REIT 2023 Survey, securing a 2nd rank overall due to our strong performance during FY23.

This is a testament to our developments, as we have remained resilient amidst recent challenges in the construction industry. In conjunction with the current robust housing market and economy, it has enabled us to hold a strong financial position over this period.

Highlights

• 12% increase in NTA
• 24% one-year return
• 97% three-year return

Click here to read the full survey.

Aspen Group (ASX: APZ) (‘‘Aspen’’) is pleased to announce that it has entered into a conditional contract to acquire the Meadowbrooke Lifestyle Estate (‘‘Meadowbrooke’’) in Boyanup, Western Australia under a receivership sale. Settlement is expected to occur in December 2021. Read the latest acquisition announcement here.

Download the PDF file

Recently Aspen released their latest Q1 results for this financial year. The next quarter is sure to bring further fantastic results across all property platforms. To find out more information about these results take a look at our latest Q1 update.

Download the PDF file

There are fundamental differences between a Retirement Village and a Land Lease Community. Aspen currently own 7 lifestyle communities across Australia. Most of these only contain Land Lease homes however some of our communities have a mix.

A Land Lease Community:

• no stamp duty fees
• you own your own home keeping 100% of any capital gains
• as you lease the land there is a more affordable upfront price point
• your new home is part of your estate as a willable asset
• where eligible, the site fees may be covered by government rent assistance (note there is a weekly site fee for LLCs)
• no council rates
• no exit fees or DMF on exit

Whereas a Retirement Village has the following:

• Weekly management fee
• Deferred management fees