The ASX-listed affordable accommodation provider Aspen Group – known for owning its properties and projects – has upgraded its FY26 pre-tax underlying earnings guidance.

“Acute shortages of housing at the more affordable end of the market will not be resolved in the foreseeable future in our opinion. The opportunities for Aspen Group are massive,” said a statement authorised by Joint Chief Executive Officers David Dixon and John Carter. 

Rental revenue for 1Q FY26 rose 15% to $19.7 million, with net rental income up 26% to $10.9 million. Aspen Group now expects earnings of 20.1 cents per security, a 20% increase on FY25 and 6% above its initial guidance, reflecting continued momentum across the portfolio from robust rental income and development profits.

Development is adding meaningful uplift. There were 30 settlements in 1Q FY26 – 25% higher year on year – comprising exclusively Lifestyle (land lease) houses. FY26 year-to-date settlements and contracts on hand total 112, already exceeding all of FY25. Development profit increased 24% to $4 million, with an average profit of $135,000 per home (a 31% margin).

Aspen has also entered contracts to acquire a large strata-titled commercial component in Surry Hills, Sydney, near its current leased premises, to establish a new Sydney headquarters.

A further update will be provided at Aspen’s Annual General Meeting on 20 November 2025.