Stockland has redefined the DMF on an accrual basis calculated under normal accrual accounting standards [only DMF earned within the period is accrued]. It says this is similar to straight lining property rent where income is accrued but the cash is received in the future. This resulted in a drop in accrued DMF income from $18 million in the First Half 2009 to $15 million in First Half 2010. Speculation is that this move will impact other operators plus add to the confusion of investors in the sector.
The Weekly SOURCE
18,650 social and affordable homes funded as 370 homes set for repurpose
The Australian Government’s flagship Housing Australia Future Fund (HAFF) has agreed to fund 9,284 social and 9,366 affordable homes through 279 successful projects under the first two funding rounds of the HAFF and National Housing Accord Facility...