Strong outlook for new housing market: AVJennings

first_imgAVJennings has a boutique new community called the Enclave in Bridgeman Downs to meet demand for brand new architecturally designed homes.BRISBANE is one of the driving forces behind a strong outlook for the new housing market, according to one of the country’s biggest real estate developers.AVJennings, which is listed on the Australian Stock Exchange, has reported a strong outlook amid high activity levels across the capitals including Brisbane.“Activity levels, particularly in the company’s key markets of Sydney, Brisbane, Melbourne and Auckland remain high, with demand for residential land lots, detached dwellings, townhouses and low-rise apartments remaining strong,” it said.The business was acquiring land “in areas where people want to live, namely Australia’s major capital cities as well as Auckland”.More from newsMould, age, not enough to stop 17 bidders fighting for this home2 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor2 hours agoAVJennings has initiatives to held first home buyers get into a new home faster. Pictured are Shane and Berenice Fortuin, with son Ethan, 5.“AVJennings management will continue to target suitable development opportunities in the middle rings and growth corridors of these capital cities.”AVJennings managing director Peter Summers expected strong consumer confidence, continuing low interest rates and inflation, positive population growth and supply shortages to continue to boost housing demand.“As has been the case for several years, the Company anticipates a significantly stronger second half, with contract signings for FY18 currently expected to be within a range of 1,900-2,100 lots.”Mr Summers said the firm was also looking to get into the supply of social housing.The firm has nine new projects involving over 4,800 lots scheduled to begin this calendar year, with work in progress up 28.6 per cent to 2,161 lots, a statement to ASX said.AVJennings reported a profit before tax position of $51m, with an after-tax result of $35.7m.last_img

Leave a Reply

Your email address will not be published. Required fields are marked *