Cedar Woods secures $63M multi-state expansion

Cedar Woods Properties (ASX:CWP) has expanded its national footprint, securing high-quality development sites across Queensland and Victoria worth over $63 million despite recent macroeconomic pressures.

The acquisitions include a $30.9 million townhouse site in Kealba, Victoria, set to deliver 200 lots, alongside two major Queensland investments: a multi-stage apartment site in Fairfield for $27.3 million yielding over 500 dwellings and a $5.3 million expansion lot in South Maclean.

Advanced negotiations are also underway for two additional parcels in Western Australia.

Managing Director Nathan Blackburne attributed the expansion to a disciplined, long-term acquisition strategy that leverages a moderation in rival bidder numbers.

He emphasised that the company’s balance sheet and flexible deferred settlement terms provide capital agility across multiple market cycles.

The expansion coincides with softening fourth-quarter enquiry and sales activity, driven by lower stock availability and dampened consumer confidence following consecutive interest rate rises.

However, severe structural housing undersupplies in Queensland, Western Australia, and South Australia continue to underpin the company’s core market fundamentals.

Operational performance remains resilient, with Cedar Woods tracking towards the top end of its FY26 earnings guidance, projecting an impressive net profit after tax growth of 30% to 35%.

Backed by over $788 million in presales recorded at March 31, the company has already pre-sold over 80% of its forecast FY27 revenue.

Supported by low gearing and substantial undrawn finance facilities, the developer anticipates continued, first-half-weighted profit growth into FY27.