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Australian (ASX) Real Estate Sector Analysis

UpdatedApr 12, 2026
DataAggregated Company Financials
Companies59
  • 7D4.5%
  • 3M-11.8%
  • 1Y0.2%
  • YTD-12.8%

The Real Estate industry is up 4.5% in the last week, with Goodman Group up 7.2%. Despite this gain, the industry's performance has been flat over the past year. Earnings are forecast to grow by 8.6% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 12 Apr 2026AU$177.1bAU$32.0bAU$10.8b11.8x16.3x5.5x
Tue, 10 Mar 2026AU$178.3bAU$32.0bAU$10.8b12.1x16.4x5.6x
Thu, 05 Feb 2026AU$196.5bAU$32.9bAU$7.8b15.3x25.3x6x
Sat, 03 Jan 2026AU$202.7bAU$32.9bAU$7.8b15.9x26.1x6.2x
Mon, 01 Dec 2025AU$201.4bAU$32.9bAU$7.8b16.3x25.9x6.1x
Wed, 29 Oct 2025AU$216.0bAU$32.9bAU$7.8b17.4x27.8x6.6x
Fri, 26 Sep 2025AU$208.5bAU$32.9bAU$7.8b17.4x26.8x6.3x
Sun, 24 Aug 2025AU$211.5bAU$32.8bAU$7.4b16.8x28.7x6.5x
Tue, 22 Jul 2025AU$201.1bAU$32.2bAU$937.4m16.8x214.5x6.2x
Thu, 19 Jun 2025AU$199.9bAU$32.1bAU$928.3m17.8x215.3x6.2x
Sat, 17 May 2025AU$192.4bAU$32.2bAU$929.0m16.3x207.1x6x
Mon, 14 Apr 2025AU$174.2bAU$32.2bAU$928.1m15x187.7x5.4x
Wed, 12 Mar 2025AU$180.8bAU$32.2bAU$928.1m15.2x194.8x5.6x
Fri, 07 Feb 2025AU$192.9bAU$29.6b-AU$3,944,695,380.0020.5x-48.9x6.5x
Sun, 05 Jan 2025AU$189.8bAU$29.6b-AU$4,022,879,380.0020.5x-47.2x6.4x
Tue, 03 Dec 2024AU$196.4bAU$29.6b-AU$4,022,762,041.0020.8x-48.8x6.6x
Thu, 31 Oct 2024AU$192.4bAU$29.6b-AU$4,023,914,967.0020x-47.8x6.5x
Sat, 28 Sep 2024AU$199.3bAU$29.7b-AU$3,965,515,011.0021.7x-50.3x6.7x
Mon, 26 Aug 2024AU$184.1bAU$29.8b-AU$4,303,322,685.0018.7x-42.8x6.2x
Wed, 24 Jul 2024AU$185.9bAU$29.0b-AU$3,107,032,685.0030.8x-59.8x6.4x
Fri, 21 Jun 2024AU$181.1bAU$28.9b-AU$3,108,292,685.0028.5x-58.3x6.3x
Sun, 19 May 2024AU$182.6bAU$28.9b-AU$3,138,830,644.0028.7x-58.2x6.3x
Tue, 16 Apr 2024AU$176.6bAU$28.9b-AU$3,139,449,437.0027.6x-56.3x6.1x
Thu, 14 Mar 2024AU$179.4bAU$29.4b-AU$3,139,449,437.0028.3x-57.1x6.1x
Sat, 10 Feb 2024AU$170.5bAU$31.8b-AU$95,654,525.0029x-1782.2x5.4x
Mon, 08 Jan 2024AU$160.2bAU$31.7bAU$633.9m26.7x252.7x5x
Wed, 06 Dec 2023AU$152.3bAU$31.8bAU$656.1m25x232.1x4.8x
Fri, 03 Nov 2023AU$143.3bAU$31.8bAU$658.1m24.1x217.8x4.5x
Sun, 01 Oct 2023AU$146.5bAU$31.8bAU$658.1m24.8x222.6x4.6x
Tue, 29 Aug 2023AU$156.6bAU$30.9bAU$1.3b25.2x118x5.1x
Thu, 27 Jul 2023AU$155.9bAU$33.7bAU$10.5b12.9x14.9x4.6x
Sat, 24 Jun 2023AU$148.2bAU$33.7bAU$10.5b13.2x14.2x4.4x
Mon, 22 May 2023AU$158.7bAU$33.7bAU$10.5b12.9x15.2x4.7x
Wed, 19 Apr 2023AU$154.3bAU$33.7bAU$10.5b12.3x14.7x4.6x
Price to Earnings Ratio

14.7x


Total Market Cap: AU$154.3bTotal Earnings: AU$10.5bTotal Revenue: AU$33.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Real Estate Sector Price to Earnings3Y Average 169.5x202420252026
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 16.3x 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
  • Both revenue and earnings for companies in the Real Estate industry have remained mostly flat over the last three years.
  • This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Industry Trends

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

AU Market4.32%
Real Estate4.45%
Industrial REITs7.01%
Retail REITs4.58%
REITS3.55%
Residential REITs2.84%
Specialized REITs1.51%
Office REITs1.45%
Hotel and Resort REITs0%0
Real Estate-0.21%
Health Care REITs-3.55%
Industry PE
  • Investors are most optimistic about the Real Estate industry which is trading above its 3-year average PE ratio of 9.4x.
    • Analysts expect its future annual earnings growth (39.8%) 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 7.7% 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
GMG Goodman GroupAU$27.977.2%
+AU$3.9b		1.9%PB2.4x
VCX Vicinity CentresAU$2.567.6%
+AU$835.3m		15.8%PB1x
SCG Scentre GroupAU$3.524.5%
+AU$783.4m		5.7%PB1x
CHC Charter Hall GroupAU$20.178.7%
+AU$766.0m		27.0%PB3.3x
GPT GPT GroupAU$4.654.5%
+AU$383.1m		5.4%PB0.8x

Latest News

SCG
AU$3.52
Scentre Group
7D
4.5%
1Y
5.7%

SCG: Distribution Guidance Will Support Future Income Visibility And Upside Potential

The analyst price target for Scentre Group has been adjusted slightly lower from A$4.13 to about A$4.07, with analysts pointing to small changes in the discount rate, fair value and expected P/E as they refine their assumptions. Analyst Commentary Bullish Takeaways Bullish analysts see incremental target changes in the sector as a signal that valuation work is becoming more refined, which can support tighter ranges for fair value estimates on Scentre Group.
DXS
AU$5.97
DEXUS
7D
2.2%
1Y
-15.0%

DXS: Buyback Plan Will Support Future Upside Despite Higher Risk Assumptions

Analysts have trimmed their DEXUS price target from A$7.52 to A$7.35, citing revised assumptions related to discount rates, revenue trends, profit margins and forward P/E multiples. What's in the News The Board of Directors authorized a buyback plan on February 18, 2026, signaling an intention to return capital to security holders through on market purchases over time (Key Developments).
PXA
AU$11.74
PEXA Group
7D
-2.9%
1Y
2.1%

PXA: Higher Margins And CFO Transition Will Support Future Upside Potential

Narrative Update on PEXA Group The analyst price target for PEXA Group has shifted from A$17.41 to about A$16.53, with analysts pointing to updated assumptions around revenue growth, profit margins, discount rate and future P/E as the key drivers of this change. What's in the News PEXA Group revised its fiscal 2026 group revenue guidance to a range of $395 million to $415 million, compared with the prior range of $405 million to $430 million (Key Developments).
LIC
AU$4.62
Lifestyle Communities
7D
-1.7%
1Y
-39.9%

LIC: Fair Value Outlook Will Balance Slightly Firmer Margins And Softer Future P/E

Analysts have slightly adjusted their price target on Lifestyle Communities to A$5.20. This reflects updated assumptions for revenue growth, profit margins and a modestly lower future P/E multiple.
VCX
AU$2.56
Vicinity Centres
7D
7.6%
1Y
15.8%

VCX: Balance Sheet Strength And Inorganic Optionality Will Support Cautious Fair Value Outlook

Analysts have lifted their price target on Vicinity Centres to A$2.34 from A$2.20, citing the appeal of its balance sheet and the potential for FFO accretive inorganic growth opportunities, despite a cautious consumer outlook. Analyst Commentary Bullish Takeaways Bullish analysts view the new A$2.34 price target as better reflecting the perceived quality of Vicinity Centres' balance sheet, which they see as a support for current valuation.
CHC
AU$20.17
Charter Hall Group
7D
8.7%
1Y
27.0%

CHC: FY26 Earnings And Distribution Guidance Will Support Stronger Returns

Analysts have nudged their price target on Charter Hall Group slightly lower to A$31.76 from A$32.03, citing updated assumptions around revenue growth, profit margins and future P/E levels. What's in the News Charter Hall Group issued earnings guidance for fiscal year 2026, setting post tax operating earnings at 100.0 cents per security.
LLC
AU$3.19
Lendlease Group
7D
-0.9%
1Y
-40.7%

LLC: Index Reclassification And Upcoming Distribution Will Support Future Upside

Analysts have kept their A$ price target for Lendlease Group unchanged, with the steady fair value estimate around A$5.48 supported by consistent assumptions on discount rate, revenue growth, profit margin and future P/E. What's in the News Lendlease Group was dropped from the S&P/ASX 100 Index, which may affect how some index and benchmark aware investors gain exposure to the stock (Key Developments).
GMG
AU$27.97
Goodman Group
7D
7.2%
1Y
1.9%

GMG: Asset Sale And Lower P/E Assumptions Will Support Stronger Future Returns

Analysts have trimmed their price target on Goodman Group to A$34.96 from A$35.86 as they factor in slightly different assumptions for revenue growth, profit margins and future P/E multiples. What's in the News Goodman Group is in discussions to sell Melbourne's Moorabbin Airport Corporation to the Australian arm of Barings and a consortium of four major investment funds for more than A$1.5b, with the deal subject to multiple approvals (Key Developments).
LED
AU$0.54
LDR Capital Property Fund
7D
-3.6%
1Y
-4.5%
HCW
AU$0.68
HealthCo Healthcare and Wellness REIT
7D
-3.5%
1Y
-16.6%
TIA
AU$0.20
Tian An Australia
7D
-25.0%
1Y
8.3%
GPT
AU$4.65
GPT Group
7D
4.5%
1Y
5.4%
GDF
AU$1.10
Garda Property Group
7D
-0.5%
1Y
-0.9%
MGR
AU$1.73
Mirvac Group
7D
1.5%
1Y
-18.8%
ABG
AU$0.96
Abacus Group
7D
-3.0%
1Y
-12.3%
BWP
AU$3.78
BWP Trust
7D
4.1%
1Y
8.0%