2024 Market Performance
The listed property sector delivered a total return of 18.5% for 2024, outperforming the broader S&P/ASX 200 index which delivered a total return of 11.4%.
Core Property has ranked 38 property stocks for their total return for the year ended 31 December 2024. The table excludes the results for Elanor Investors Group (ASX: ENN) which was suspended from the ASX on 23 August 2024.
- 22 of the property stocks delivered a positive return and 16 delivered a negative return. 11 stocks delivered double digit positive returns for the year.
- HMC Capital (ASX: HMC) was the strongest performer, with a total return of +62.0%. HMC benefitted from significant growth in Assets Under Management, which included the ASX listing of a data centre portfolio in the DigiCo Infrastructure REIT (ASX: DGT). Other fund managers which delivered positive returns included Goodman Group (+42.1%), Charter Hall Group (+23.0%) and Centuria Capital Group (+7.0%).
- The Retail property stocks were a mixed bag, with positive returns from Scentre Group (+20.4%), Vicinity Centres (+8.7%) and HomeCo Daily Needs REIT (+0.7%). Negative returns were reported for RAM Essential Services Property (-8.1%), Charter Hall Retail REIT (-5.9%), with weaker results from BWP Trust (-1.8%), Region Group (-2.3%)
- The Industrial stocks delivered negative returns: Centuria Industrial REIT (-8.3%) and Dexus Industria REIT (-1.7%).
- The Office stocks remained weak: GDI Property (-3.8%), Centuria Office REIT (-9.7%) and Elanor Commercial Property Fund (-9.2%).