DEXUS: Interim result 2016

Property values continue to rise in the current low interest rate environment but fundamentals are becoming more important.

DEXUS’s interim result reflects the benefits of continuing low interest rates, which have driven the returns of most listed property trusts (aka ‘A-REITs’) in recent years (see Table 1). Whilst property net operating income increased by 3%, a 15% decline in borrowing costs and a 250% increase in trading profits – gains on the sale of properties in its trading and development division – helped drive distributable profit up 25%.

DEXUS’s trading profits are benefitting from rises in the prices of office towers and industrial properties due to demand for quality commercial property in the current low interest rate environment.

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