GMG, DXS, SCG: Three ASX real estate stocks to track as property prices rise

April 03, 2022 09:46 PM PDT | By Ashish

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GMG, DXS, SCG: Three ASX real estate stocks to track as property prices rise — Image source: © Sarawutnirothon |Megapixl.com

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Highlights

The Australian property prices have surged significantly in the first three months of the

The property prices have risen due to record low interest rates, labour market recovery and upbeat demand for housing.

The ASX 200 Real Estate index (ASX:XRE) has risen over 1% in the past six months.

Australian property prices have surged significantly in the first quarter of 2022, primarily driven by robust conditions in Brisbane, Adelaide, Perth, and the ACT. According to the latest data by the Australian Bureau of Statistics (ABS), residential property prices soared nearly 5% during the March quarter, amid record low interest rates, labour market recovery and upbeat demand for housing.

However, large markets such as Sydney and Melbourne have lately seen a dramatic fall in growth. According to CoreLogic's Hedonic Home Value Index, Australia saw a marginal 0.7% surge in prices in March. Sydney, for instance, revealed the steepest fall. The growth rate dropped from a peak of 9.3% in the three months to May 2021 to just 0.3% in the first quarter of 2022.

Nevertheless, the property sector continues to boom in smaller cities and buyers are paying huge sums of money to buy properties. Meanwhile, the ASX 200 Real Estate index (ASX:XRE) has risen over 1% in the past six months. The ASX 200 (ASX:XJO) has surged over 3% during the same period.

On this note, let’s discuss how these three ASX-listed housing stocks have performed amid rise in property prices in Australia.

Goodman Group (ASX:GMG)

Goodman Group is into business space property and international industrial, development and funds management business.

In the past six months, the stock has delivered a return of nearly 7%, while in the past month, it has offered a return of nearly 5%.

Dexus Property Group (ASX:DXS)

Dexus is a real estate investment trust, which manages, owns, and develops Australian real estate assets. The company owns a portfolio of retail, office, industrial and healthcare properties, which are managed by the company on behalf of the third party.

In the past six months, the stock has delivered a return of nearly 4%. The stock rose nearly 3% in the past month.

Scentre Group Ltd (ASX:SCG)

Scentre Group runs various shopping centres in Australia and New Zealand, including the Westfield shopping centres. The group operates Scentre Group Trust 1, Scentre Group Trust 2, and Scentre Group Trust 3 and is into property management and development.

In the past six months, the stock has delivered a return of 4%. The stock rose over 5% in the past month.

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