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Australian (ASX) Real Estate Sector Analysis

UpdatedMay 28, 2026
DataAggregated Company Financials
Companies57
  • 7D2.5%
  • 3M-2.9%
  • 1Y-7.7%
  • YTD-9.2%

The Real Estate industry is up 2.5% in the last week, with Centuria Capital Group up 12%. In the past year, the industry is down 7.7%. As for the next few years, earnings are expected to grow by 9.1% per annum.

Sector Valuation and Performance

Has the Australian Real Estate Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 28 May 2026AU$180.8bAU$31.6bAU$10.8b11.3x16.7x5.7x
Sat, 25 Apr 2026AU$182.3bAU$32.0bAU$10.8b12x16.8x5.7x
Mon, 23 Mar 2026AU$171.4bAU$32.0bAU$10.8b11.9x15.8x5.4x
Wed, 18 Feb 2026AU$195.4bAU$33.3bAU$9.2b13.9x21.3x5.9x
Fri, 16 Jan 2026AU$201.5bAU$32.9bAU$7.8b15.9x25.9x6.1x
Sun, 14 Dec 2025AU$200.5bAU$32.9bAU$7.8b15.9x25.8x6.1x
Tue, 11 Nov 2025AU$203.9bAU$32.9bAU$7.8b16.7x26.2x6.2x
Thu, 09 Oct 2025AU$209.0bAU$32.9bAU$7.8b16.6x26.9x6.4x
Sat, 06 Sep 2025AU$210.5bAU$32.9bAU$7.8b16.9x27.1x6.4x
Mon, 04 Aug 2025AU$202.2bAU$32.5bAU$1.0b17.8x201.2x6.2x
Wed, 02 Jul 2025AU$196.3bAU$32.1bAU$928.6m17.6x211.4x6.1x
Fri, 30 May 2025AU$194.5bAU$32.2bAU$938.4m17x207.3x6x
Sun, 27 Apr 2025AU$180.9bAU$32.2bAU$929.0m15.2x194.7x5.6x
Tue, 25 Mar 2025AU$183.6bAU$32.2bAU$928.1m15.8x197.8x5.7x
Thu, 20 Feb 2025AU$196.1bAU$29.5b-AU$1,876,400,380.0018.8x-104.5x6.6x
Sat, 18 Jan 2025AU$193.2bAU$29.6b-AU$4,022,879,380.0021x-48x6.5x
Mon, 16 Dec 2024AU$187.5bAU$29.6b-AU$4,022,879,380.0020.9x-46.6x6.3x
Wed, 13 Nov 2024AU$191.4bAU$29.6b-AU$4,023,914,967.0020.2x-47.6x6.5x
Fri, 11 Oct 2024AU$196.4bAU$29.6b-AU$4,032,224,011.0022x-48.7x6.6x
Sun, 08 Sep 2024AU$190.4bAU$29.7b-AU$3,965,515,011.0019.2x-48x6.4x
Tue, 06 Aug 2024AU$177.2bAU$29.0b-AU$3,044,220,685.0031.4x-58.2x6.1x
Thu, 04 Jul 2024AU$176.7bAU$28.8b-AU$3,120,177,685.0029.7x-56.6x6.1x
Sat, 01 Jun 2024AU$178.6bAU$28.9b-AU$3,108,292,685.0028.4x-57.4x6.2x
Mon, 29 Apr 2024AU$171.2bAU$28.9b-AU$3,139,449,437.0027.1x-54.5x5.9x
Wed, 27 Mar 2024AU$185.6bAU$29.4b-AU$3,139,449,437.0030.1x-59.1x6.3x
Fri, 23 Feb 2024AU$171.2bAU$29.4b-AU$2,840,169,372.0028x-60.3x5.8x
Sun, 21 Jan 2024AU$158.5bAU$31.7bAU$634.0m26.6x250x5x
Tue, 19 Dec 2023AU$162.9bAU$31.8bAU$656.0m27.5x248.3x5.1x
Thu, 16 Nov 2023AU$154.9bAU$31.8bAU$658.0m26.4x235.5x4.9x
Sat, 14 Oct 2023AU$146.9bAU$31.8bAU$658.2m24.1x223.2x4.6x
Mon, 11 Sep 2023AU$156.7bAU$30.8bAU$658.1m25.1x238x5.1x
Wed, 09 Aug 2023AU$155.1bAU$33.4bAU$9.5b14.5x16.3x4.6x
Fri, 07 Jul 2023AU$153.7bAU$33.7bAU$10.5b12.9x14.7x4.6x
Sun, 04 Jun 2023AU$156.0bAU$33.7bAU$10.5b12.5x14.9x4.6x
Price to Earnings Ratio

14.9x


Total Market Cap: AU$156.0bTotal Earnings: AU$10.5bTotal Revenue: AU$33.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Real Estate Sector Price to Earnings3Y Average 169.6x202420252026
Current Industry PE
  • Investors are pessimistic on the Australian Real Estate industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 16.7x which is lower than its 3-year average PE of 170x.
  • The industry is trading close to its 3-year average PS ratio of 5.8x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have declined 2.1% per year.
  • This means that the cost of doing business could be reducing since sales have declined but profits have remained steady.

Industry Trends

Which industries have driven the changes within the Australian Real Estate sector?

AU Market2.49%
Real Estate2.53%
Industrial REITs3.65%
REITS3.64%
Residential REITs2.25%
Retail REITs1.92%
Specialized REITs0.66%
Hotel and Resort REITs0%0
Office REITs-0.28%
Real Estate-2.31%
Health Care REITs-4.38%
Industry PE
  • Investors are most optimistic about the Real Estate industry which is trading above its 3-year average PE ratio of 13.5x.
    • Analysts expect its future annual earnings growth (43.0%) to be largely in line with prior year's earnings growth.
Forecasted Growth
  • Analysts are most optimistic on the Health Care REITs industry, expecting annual earnings growth of 100% over the next 5 years.
  • In contrast, the Retail REITs industry is expected to see its earnings decline by 9.3% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
CNI Centuria Capital GroupAU$1.9212.0%
+AU$174.5m		16.0%PB2.2x
GPT GPT GroupAU$4.831.5%
+AU$134.1m		2.3%PB0.9x
SCG Scentre GroupAU$3.720.5%
+AU$104.5m		1.1%PB1x
CHC Charter Hall GroupAU$19.451.0%
+AU$89.8m		6.9%PB3.2x
PPC PeetAU$1.739.5%
+AU$70.2m		8.1%PE9.6x

Latest News

PXA
AU$10.63
PEXA Group
7D
-9.9%
1Y
-16.7%
LLC
AU$2.76
Lendlease Group
7D
-7.7%
1Y
-52.2%
Narrative Update • May 26

LLC: Index Removal And Small Cap Inclusion Will Support Future Upside

Analysts have trimmed their price target for Lendlease Group to A$5.04 from A$5.26, citing a slightly higher discount rate as well as updated assumptions around future profit margins and P/E multiples. What's in the News Lendlease Group was dropped from the S&P/ASX 100 Index, shifting it out of the large cap benchmark (Key Developments).
CHC
AU$19.45
Charter Hall Group
7D
1.0%
1Y
6.9%
CNI
AU$1.92
Centuria Capital Group
7D
12.0%
1Y
16.0%
GPT
AU$4.83
GPT Group
7D
1.5%
1Y
2.3%
CLW
AU$3.44
Charter Hall Long WALE REIT
7D
-2.3%
1Y
-16.7%
Narrative Update • May 24

CLW: Long WALE Income And Discount Rate Assumptions Will Shape Future Returns

Analysts have trimmed their price target for Charter Hall Long WALE REIT to A$3.89 from A$3.93, reflecting a slightly higher discount rate assumption and minor tweaks to assumptions about long term revenue growth, profit margin and future P/E expectations. Analyst Commentary Analysts are using the small reduction in the A$3.89 price target as a way to fine tune how they see valuation risk and execution quality for Charter Hall Long WALE REIT rather than as a signal of a fundamental shift in the story.
SGP
AU$4.03
Stockland
7D
0.5%
1Y
-27.3%
Narrative Update • May 19

SGP: Confirmed 2025 Distribution Will Support Upside Under Slightly Firmer Risk Settings

Analysts have trimmed their Stockland price target slightly from A$4.99 to A$4.97, reflecting a modest recalibration of fair value, discount rate, growth and margin assumptions, while also incorporating a marginally higher future P/E multiple. Analyst Commentary Analysts’ latest work on Stockland indicates that the small shift in the price target sits within a broader debate about how much credit to give the group for execution, capital allocation and earnings resilience, especially in a mixed macro backdrop for property and interest rates.
VCX
AU$2.52
Vicinity Centres
7D
-1.2%
1Y
3.7%
GMG
AU$30.77
Goodman Group
7D
-0.3%
1Y
-5.4%
Narrative Update • May 13

GMG: Data Center Expansion And Asset Sales Will Shape Balanced Future Prospects

Analysts have kept Goodman Group's A$34.46 price target broadly steady, reflecting only small model tweaks to the discount rate and long term P/E assumptions, rather than a change in their overall view of the stock. What's in the News Goodman Group and DataBank formed a joint venture to develop a new 32MW data center facility in Los Angeles, a market described as supply constrained for data center capacity, with phased capacity expected to be available between December 2026 and September 2027 (Key Developments).
SCG
AU$3.72
Scentre Group
7D
0.5%
1Y
1.1%
DXS
AU$5.93
DEXUS
7D
-3.3%
1Y
-15.0%
LIC
AU$5.18
Lifestyle Communities
7D
5.7%
1Y
-26.1%
Narrative Update • May 07

LIC: Higher Discount Rate Will Support Future Upside Potential

Analysts have trimmed their price target for Lifestyle Communities to A$5.70 from A$6.34, citing updated assumptions that include a higher discount rate, different revenue growth and profit margin settings, and a slightly higher future P/E multiple. Valuation Changes Fair value estimate reduced from A$6.34 to A$5.70, reflecting the updated modelling assumptions.
HCW
AU$0.72
HealthCo Healthcare and Wellness REIT
7D
8.3%
1Y
-12.7%
CQR
AU$3.73
Charter Hall Retail REIT
7D
-3.1%
1Y
-6.0%
MGR
AU$1.68
Mirvac Group
7D
-1.5%
1Y
-27.0%
PPC
AU$1.73
Peet
7D
9.5%
1Y
8.1%