Ingenia Communities has cut its settlements forecast for the year by 12 per cent as a result of materials shortages, delays in securing labour and wet weather stoppages in Victoria, and warned that earnings will come in at the lower end of its previously expressed guidance.
The developer and landlord of affordable accommodation for downsizing Baby Boomers on Thursday lowered its settlements forecast for the year to 460-485 homes from its earlier prediction of 525-550.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
