Key Highlights

  • The company completed 311 settlements, against an FY27 target of 1,100 to 1,200.
  • Presales were above $763 million at 30 September 2026, matching the prior corresponding period.
  • Gross sales of 167 were down 24% on the prior quarter and 57% on the prior corresponding period.
  • FY27 NPAT guidance of about $75 million, roughly 15% growth, was maintained.

Cedar Woods Properties Limited (ASX:CWP) provided its first-quarter FY27 operational update on 27 October 2026, covering settlements, presales, sales activity and acquisitions.

Settlements, Presales and Guidance

Cedar Woods said it remains on track for NPAT of about $75 million in FY27, roughly 15% growth, with over 90% of forecast FY27 revenue settled or presold at 30 September 2026. Presales were above $763 million, the same as a year earlier, with about $380 million expected to settle in FY27, $316 million in FY28 and $67 million in FY29.

The 311 settlements included land stages at Ariella, Eglinton Village and Millars Landing in Western Australia and Clara Place in Victoria. The Douglas Apartments project in Noble Park was completed and sold in one line to a not-for-profit community housing provider, and the first two stages of an office warehouse development at Smith Works in Williams Landing sold out.

Sales Activity and Funding

Gross sales were 167 in the quarter, down 24% on the prior quarter and 57% on the prior corresponding period. The company linked the lower buyer activity to successive RBA cash rate rises, cost-of-living pressures and taxation reforms, as well as fewer stage releases and lower marketing spend. Increased marketing and new stage releases are planned for the second quarter, and sales have shown signs of improvement since. The company continues to build presales and progress construction of projects that will settle in FY28, which include Elegan at Glenside in South Australia.

During the quarter Cedar Woods settled the $15.55 million acquisition of land next to its Bushmead estate, enabling an additional 161 lots. It has $330 million of corporate finance facilities, 80% with a three-year tenure and 20% with five years. A fully franked FY26 final dividend of 25 cents per share is payable on 30 October 2026, which the company described as its largest dividend.

Why This Could Matter

The update separates earnings already underpinned by presales from new sales activity, which was lower. Because presales of $763 million are scheduled to settle across FY27 to FY29, current-quarter sales and settlements show different stages of the pipeline.

Closing View

Cedar Woods maintained its FY27 guidance, reported settlements ahead of budget and recorded a sharp year-on-year fall in gross sales. The company expects increased marketing and new releases to support sales for the remainder of FY27.