Why Are Investors Watching Goodman Group (ASX:GMG), Scentre Group (ASX:SCG) and Stockland (ASX:SGP) in the Evolving Property Market?

Sonal Goyal

14 September 2026 08:46 PM AEST

Why Are Investors Watching Goodman Group (ASX:GMG), Scentre Group (ASX:SCG) and Stockland (ASX:SGP) in the Evolving Property Market?

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Highlights

Goodman Group (ASX:GMG) reported FY26 Earnings growth supported by development activity and Demand for data centre infrastructure.
Scentre Group (ASX:SCG) delivered higher funds from operations in H1 FY26 with continued performance from its Westfield portfolio.
Stockland (ASX:SGP) recorded growth in funds from operations, supported by residential settlements and Investment management activities.
The three companies provide exposure to different property themes, including digital infrastructure, retail Assets and residential communities.

Goodman Group (ASX:GMG), Scentre Group (ASX:SCG) and Stockland (ASX:SGP) represent different segments of the Australian listed property market. Goodman Group has expanded its focus on industrial assets and data centre developments, Scentre Group operates a major retail property portfolio through Westfield destinations, while Stockland combines residential development with logistics and investment management activities.

The Australian property sector has been influenced by changing Interest Rate conditions, asset valuations and demand across different property categories. While some areas continue to face challenges, demand for digital infrastructure, logistics facilities, retail destinations and residential communities has shaped the strategies of major listed property groups.

Australian Property Sector Trends

Property companies continue to manage the impact of financing costs, valuation movements and changing tenant demand. Real estate businesses with diversified portfolios and recurring income streams have focused on maintaining occupancy, expanding investment platforms and progressing development pipelines.

Industrial property and data centre infrastructure have benefited from demand linked to digital services and cloud computing. Retail assets have seen improving operational conditions, while residential developers continue to respond to housing demand and affordability challenges.

Goodman Group (ASX:GMG)

Goodman Group (ASX:GMG) operates across industrial property, logistics facilities, investment management and data centre developments. The company manages properties across Australia, Asia, Europe and the Americas, with development activity becoming an increasingly important part of its business.

For FY26 ended 30 June 2026, Goodman reported operating profit of A$2,674.5 million, representing growth of 15.7%. Operating earnings per security increased 10.1% to 129.9 cents, while the company declared a distribution of 30.0 cents per security.

The company’s development pipeline remained focused on infrastructure supporting digital demand. Work in progress reached A$19.7 billion across multiple projects, with data centres accounting for a significant portion of the pipeline. Goodman also reported total assets under management of A$75.4 billion.

Goodman provided FY27 operating earnings per security guidance growth of approximately 9%. The company continues to focus on converting development opportunities into operational assets while expanding its global property platform.

Scentre Group (ASX:SCG)

Scentre Group (ASX:SCG) owns and manages the Westfield portfolio across Australia and New Zealand. The company generates earnings from retail property operations, leasing activities and asset management.

For the six months ended 30 June 2026, Scentre Group reported funds from operations of A$612 million, representing growth of 4.4%, with funds from operations per security of 11.73 cents. Distributions increased to 9.215 cents per security.

The company reported continued operational activity across its portfolio, with occupancy reaching 99.8%. Customer visitation increased during the period, while Business partner sales reached A$30.3 billion over the 12 months ended 30 June 2026.

Scentre Group upgraded its FY26 funds from operations guidance, targeting at least 23.79 cents per security. The company continues to focus on retail destination performance, leasing activity and development opportunities across its property portfolio.

Stockland (ASX:SGP)

Stockland (ASX:SGP) operates across residential communities, land Lease communities, logistics property and investment management. The company has exposure to housing demand through its residential development pipeline and recurring income through investment assets.

For FY26 ended 30 June 2026, Stockland reported funds from operations of A$892 million, increasing 10.4%. Funds from operations per security increased 9.1% to 36.9 cents, while statutory profit also increased during the period.

Residential communities remained a key contributor, with masterplanned communities recording higher settlement activity. The company also reported growth from its investment management platform and logistics portfolio.

For FY27, Stockland provided funds from operations per security guidance of 38.0 to 39.0 cents, with residential settlements and land lease communities remaining important areas of activity.

Property Sector Outlook

The outlook for listed property companies continues to depend on interest rates, financing conditions, property valuations and demand across different asset classes.

Goodman Group (ASX:GMG) remains linked to data centre infrastructure and industrial property demand. Scentre Group (ASX:SCG) continues to operate within the retail property segment, where customer activity and leasing conditions remain important. Stockland (ASX:SGP) remains exposed to residential demand, logistics growth and investment management activities.

Key Risks

Property companies remain exposed to changes in interest rates, borrowing costs and asset valuations. A shift in financing conditions could influence property values and development activity.

For Goodman Group (ASX:GMG), key considerations include execution of data centre developments, construction costs and demand conditions for digital infrastructure. Scentre Group (ASX:SCG) remains exposed to retail spending patterns and changes in consumer behaviour. Stockland (ASX:SGP) faces risks linked to residential demand, construction costs and housing market conditions.

What Investors May Watch Next

Investors may monitor progress across each company’s operating areas, including Goodman Group’s data centre development pipeline, Scentre Group’s retail portfolio performance and Stockland’s residential settlement activity.

Future updates on property valuations, development progress, leasing conditions and interest rate expectations may provide further information on how these businesses are progressing through changing market conditions.

FAQs

Q: What is Goodman Group (ASX:GMG) focused on?

A: Goodman Group focuses on industrial property, logistics facilities, investment management and data centre developments.

Q: How does Scentre Group (ASX:SCG) generate earnings?

A: Scentre Group generates earnings through its Westfield retail property portfolio, leasing activities and asset management operations.

Q: What are Stockland’s (ASX:SGP) main business areas?

A: Stockland operates across residential communities, land lease communities, logistics property and investment management.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.