Listed and private builders are reporting strong sales. AV Jennings reported on Monday that it had booked a 39.2 per cent increase in interim profit as buyers surge into its housing estates, with Queensland being among the best of the states. Revenue grew 57.9 per cent to $187.2 million after contract signings rose 14.6 per cent.
The developer's main focus on traditional housing markets - much of that is in greenfield estates - had protected it from the volatility of the inner-city high-rise market.
"Supply and demand for capital city high density housing has significantly increased in recent years and is likely to decrease in the short term."
"However, there are no signs of an over supply in the proven traditional housing sector, comprising medium density and detached housing, in which the company operates."