Only way to lose on Aussie property? Top short defies doubters
Over 50s housing operator Lifestyle Communities is not just one of the market’s top 15 most shorted stocks, it was a key hedge fund bet emerging out of Hong Kong’s Sohn conference.
The glossy brochures for Lifestyle Communities paint an enticing picture for many retirees drawing a government pension: well-maintained homes set amid gardens, shared indoor pools and croquet lawns. For a change of scene, there’s also free access to holiday timeshares and motorhomes on Victoria’s Bellarine Peninsula.
As one of the early entrants into the fast-growing and increasingly competitive land lease sector, where residents buy their house but rent the land, the $1.5 billion Lifestyle Communities has also been a sharemarket success story.
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Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years. Email Jemima at jemima.whyte@afr.com
