Infrastructure

1. There are currently 250 First Home Finance units in the Mountain View Housing Project vacant.  There are 10 pending transfers that are currently in process, which then will leave the remaining 240 units vacant.
2. The remaining vacant units are being actively marketed via multiple platforms. Although significant interest in the project exists, finalising sales contracts with potential buyers remains a challenge.  The primary reason for slow sales has been the credit health of the applicants. A large portion of prospective buyers are found to have unhealthy or low credit profiles, judgments and historic adverse listings. All these significantly impair and reduce their ability to secure required home loans.

Several interventions are being implemented to improve sales conversions, which includes that applicants are assisted to understand the affordability requirements. They are being actively guided to repair or improve their credit profiles. The sales team is also working closely with lenders to structure viable applications where possible.  The sales team continue to screen and support new leads to ensure that stronger, more finance ready buyers enter the process.