Best ASX Real Estate Stocks
Mirvac Group (ASX: MGR)
has demonstrated continued operational strength and momentum in the third quarter of FY25. The company achieved a notable 76% year on year increase in residential sales with 530 lots sold driving pre sales to approximately $2.1 billion. Investment portfolio fundamentals remained robust as evidenced by a 96.2% occupancy rate and high specialty retail productivity of $11,460 per square meter. Commercial progress was marked by 55 Pitt Street, Sydney reaching 42% pre leased status and major lease renewals including EY at 200 George Street. Key development milestones included strong pre leasing activity across commercial projects and advanced construction at flagship developments.
Mirvac secured a heads of agreement to sell a 49% interest in Stage 1 of SEED, Badgerys Creek and has entered exclusive due diligence to divest up to a 50% stake in Harbourside, Sydney. The company also added 200 lots to its land lease pipeline in Brisbane and is on track to complete its fourth build to rent asset LIV Anura. Mirvac reiterated its FY25 guidance targeting operating earnings of 12.0-12.3 cents per stapled security and a distribution of 9.0 cents per stapled security reflecting a solid balance sheet and strong development pipeline.
REA Group Limited (ASX: REA)
delivered an outstanding FY25 result recording 15% revenue growth to $1,673 million and a 23% rise in net profit to $564 million. Operating EBITDA excluding associates grew 18% to $969 million while earnings per share increased to $4.27. The full year dividend climbed 31% to $2.48 per share fully franked. Strong performance was driven by increased residential revenue which went up 16% to $1,156 million and was underpinned by a 14% rise in Buy yield and robust engagement on flagship site realestate.com.au.
Operational highlights included a 14% increase in Australian revenue to $1,544 million and 25% growth in Indian revenue to $129 million. Commercial and developer revenues grew 10% which was supported by higher average prices and depth penetration. Capital management was a focus with full repayment of external debt after the PropertyGuru stake sale leaving a $429 million cash balance and a robust undrawn facility. The company remains well positioned for FY26 targeting continued double-digit growth fueled by ongoing investment in technology and consumer engagement, a high market share and strong property fundamentals.
GPT Group (ASX: GPT)
reported Funds from Operations of $616.3 million (32.2 cents per security) and Adjusted FFO of $470 million for the full year ending December 2024 alongside a distribution of 24.0 cents per security. Occupancy across its investment portfolio remained strong at 98.6% with retail assets performing well at 99.8% occupancy and specialty sales productivity reaching $13,217 per square meter. The group completed 570 lease deals across its retail portfolio achieving average annual rental increases of 4.9%. GPT is advancing development projects which includes the $200 million expansion of Rouse Hill Town Centre and a significant logistics pipeline valued at approximately $3 billion.
GPT formed a $1 billion logistics partnership with QuadReal Property Group establishing GPT QuadReal Logistics Trust 2 with an initial asset base of $460 million and plans to expand with an additional $500 million in acquisitions. GPT retains a 20% stake in this venture which is expected to support future earnings growth while reducing gearing. The group’s balance sheet remains strong with gearing at 28.7% and liquidity of $1.1 billion. GPT reaffirmed its guidance for 2025 anticipating modest FFO growth of 1-3% to 32.5-33.1 cents per security and maintaining a full-year distribution of 24.0 cents per security.
SCENTRE GROUP (ASX: SCG)
demonstrated a strong operational and financial performance in 2024 owning and operating 42 Westfield destinations across Australia and New Zealand. Customer visitation reached 526 million with occupancy rising to 99.6% and specialty retail sales hitting a record $29.0 billion. The Trust reported a profit after tax of $509.3 million which is a significant increase from $50.2 million in the prior year. This is supported by a $56.0 million net uplift in property valuations and solid net property income of $899.7 million. Distributions to securityholders totaled $488.1 million (9.39 cents per unit) with basic earnings per unit up to 9.61 cents. The portfolio’s valuation stood at $16.9 billion with strong capital management reflected in available financing of $3.2 billion and the issuance of $900 million in subordinated notes and $1.25 billion in senior notes during the year.
Scentre Group continues to progress a $4 billion development pipeline including projects at Westfield Tea Tree Plaza, Mt Gravatt, Southland and Bondi where new retail and lifestyle precincts are underway. In July 2025, Scentre Group entered a joint venture with the Dexus Wholesale Shopping Centre Fund selling a 25% interest in Westfield Chermside, Brisbane for $683 million at book value reinforcing its capital management strategy while retaining property, leasing and development management roles. Looking ahead, the Group targets Funds From Operations (FFO) growth of 4.3% to 22.75 cents per security in 2025 with distributions expected to increase 2.5% to 17.63 cents per security underpinning its focus on sustainable long-term value creation for securityholders.
Stockland Corporation Limited (ASX:SGP)
continued to demonstrate a strong operational progress in 3Q25 maintaining its FY25 Funds From Operations guidance of 33.0 to 34.0 cents per security and targeting distributions at about 75% of post-tax FFO. The company finalized contractual negotiations to lead the significant Waterloo Renewal Project which is a mixed tenure development of over 3,000 apartments including 50% social and affordable housing and is set to commence in 2027. Masterplanned Communities achieved net sales of 1,509 lots with 6,232 contracts on hand supporting expected FY25 settlements between 6,200 and 6,700 lots. Land Lease Communities showed healthy pricing and a revised FY25 settlement expectation of around 500 homes.
In investment management, Stockland’s logistics portfolio showed positive leasing spreads of 26% with occupancy improving to 98.5% while the town centre portfolio sustained strong retail sales growth with total comparable MAT growth of 2.4%. This was driven by essentials-based categories. Workplace properties registered a 5.5% positive re-leasing spread and a strong occupancy of 91.2%. The Land Lease Communities segment remained fully occupied with key expansions to its partnership. In addition to that, Stockland announced an estimated 2H25 distribution of 17.2 cents per security maintaining full-year guidance of 25.2 cents alongside the operation of a Distribution Reinvestment Plan offering a 1% discount. Overall, Stockland’s diversified portfolio and strategic initiatives position the group well for sustained growth and community impact.
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