Simonds Group (ASX:SIO) has announced its site starts for the 12 months to 30 June 2017 were 154 properties down on the prior period, to total 2,391.
The residential property developer says investor and offshore sales were impacted by tighter government and bank policies on investor lending.
Simonds Group says its trade program, Builders Academy Australia saw a drop in enrollments for FY17, by 697 from the prior period.
Meantime, the group’s sales pipeline strengthened for the FY17 year to 2,725 homes.
Shares in Simonds Group (ASX:SIO) are trading 3.12 per cent lower to $0.31.