Property and Infrastructure

It could have been worse, brokers agree, but there are negatives/positives for healthcare, infrastructure, retail and other sectors. Stock impacts debated.

Retailer rental growth is unlikely, given the income pressures on retailers, while office rental growth appears limited to Sydney and Melbourne. Brokers look at preferred REITs.

A Legg Mason survey has found a “reality” gap between the level of return Australian retirement investors expect and what they are achieving, with property investment suggesting the greatest delusion.

Michael Gable of Fairmont Equities notes Westfield Group has broken out of its downtrend and is offering more upside.

Brokers are impressed with the progress and outlook for Lend Lease’s major development projects.

Nick Linton-Ffrost of Fifth Wave suggests a short-term trading idea in Lend Lease.

Brokers are increasingly confident that Brickworks will reflect the recovery in house building.

Stockland has taken a 19.9% strategic stake in Australand and brokers mull the consequences and the potential for a full bid.

Australian real estate investment trusts underperformed at the interim results and brokers pick over those with most potential in 2014.

Lukewarm outlook for telcos; GPT and Charter Hall compared; registries reviewed; pressure mounts on wagering; media performs better.