Residential developer Mirvac's settlement default rates have risen higher than its historic average of 1 per cent but it has resold all its defaulted residential lots, the group said in a 2016-17 first quarter update.

The higher settlement defaults would also not impact the growth targets for the group's residential division, set to grow by over 15 per cent in 2017.

To date, the group has maintained it had little settlement risk and would not exceed its historical rate of 1 per cent.

It has also expressed confidence that foreign buyers - the group with the largest settlement risk due to the clampdown of bank lending - would be able to obtain private finance.

"We remain comfortable with the contingency we have in place for our full year earnings outlook," Mirvac chief executive Susan Lloyd-Hurwitz said.

"While we continue to experience settlement delays from foreign buyers, settlements overall are tracking in line with expectations, and we continue to carefully monitor and manage our settlement risk profile."

The group settled 667 residential lot settlements in the first quarter of 2017, and said it was on track to settle over 3300 lots in 2017, with over 65 per cent expected to settle in the second half of the year.

It pre-sold 74 per cent of the second launch of its St Leonards project in north Sydney, and in also pre-sold between 62 to 85 per cent of its house and land projects in Brighton Lakes and Gledswood Hills, Sydney and Woodlea in Melbourne.

The group's office results were also strong - it achieved a 95.2 per cent occupancy for its portfolio, expected to rise to 96 per cent. The weighted average lease expiry for the portfolio is 6.4 years.

In retail, Mirvac's second floor refurbishment at its Broad shopping centre paid off.

Fashion groups H&M and Sephora took up new tenancies pushing the centre's sales higher by 29 per cent than last year.

It also opened the much awaited restored heritage-listed Rozelle Tramsheds at its Harold Park apartment development in Glebe in inner city Sydney, boasting tenancies from boutique and well known brands such as Butcher and the Farmer, Fish & Co, Osaka Trading, Garcon and Bodega 1904.

Overall, the group's gearing remained in the target range of between 20 and 30 per cent and it achieved operating earnings growth of between 8 and 11 per cent in the year to date.

The company also reaffirmed distributions per share guidance of between 10.2 and 10.4 cents per share, representing a growth of between 3 to 5 per cent on 2016.