Jennings upbeat

Buyers are finally returning to the new housing market after an extended slowdown, leaving property developer AV Jennings cautiously optimistic for 2013. Chief executive, Peter Summers, said improvements in affordability, low interest rates, housing shortages, and stable economic conditions all indicated market conditions were improving. "Visitations are up in a lot of our projects. [That] indicates it is an improving market out there, and in some of our projects the sales rates are up as well," Mr Summers said. AV Jennings reported a net loss of $19.1 million for the six months to December 31, compared to a profit of $3.3 million in the previous corresponding period.

Buyers are finally returning to the new housing market after an extended slowdown, leaving property developer AV Jennings cautiously optimistic for 2013. Chief executive, Peter Summers, said improvements in affordability, low interest rates, housing shortages, and stable economic conditions all indicated market conditions were improving. "Visitations are up in a lot of our projects. [That] indicates it is an improving market out there, and in some of our projects the sales rates are up as well," Mr Summers said. AV Jennings reported a net loss of $19.1 million for the six months to December 31, compared to a profit of $3.3 million in the previous corresponding period.

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles