AV Jennings

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http://bigskycoomera.com.au/

Claim a slice of big sky


259 words
17 Oct 2015
Courier Mail
COUMAI

English

BOUTIQUE developers and builders were given the opportunity to secure a land superlot in AVJennings’ Big Sky residential community in Coomera.
The lots provide a variety of residential homesites ranging from 650sq m to 1775sq m, and were marketed through a tender process, which closed this week.
The lots are under construction, and registration is expected in November. The new lots come after AVJennings sold out two precincts on release for a total of $11 million, prompting the developer to bring forward the launch of new stages.
AVJennings Queensland general manager Rod Chadwick said the decision to release some superlots to boutique developers and builders was designed to keep the momentum and activity at Big Sky moving.
“By bringing in smaller developers and builders we can deliver a greater range of new homes to meet market demand. By partnering with boutique developers and builders we can bring the development to maturity sooner with a new and more affordable product offering for the area.
“Boutique builders and developers have the opportunity to be a part of a well established and centrally located community within the Coomera growth corridor.
“This initiative is also geared towards providing more variety and choice for our purchasers, as Big Sky caters to a broad demographic including everyone from young couples and families through to investors, empty nesters and retirees.”Coomera’s population is expected to increase by 600 per cent during the next 16 years, from just more than 9000 people to almost 70,000 residents by 2031.

News Ltd.

Lots of interest in Coomera


242 words
31 Oct 2015
Gold Coast Bulletin
GCBULL

English

DEVELOPER AVJennings has sold out two land releases at its Coomera community within days of their launch.
AVJennings took contracts on all 45 homesites in the latest stages of its Big Sky community in Coomera for a total of almost $11 million last weekend, prompting the early release of another 40 lots to the market.
AVJennings state general manager Rod Chadwick said the pace of land sales on the Gold Coast reflected a lack of homesites compared with built product.
“There’s fierce competition among buyers to secure new land, because there are plenty of young couples and families on the Gold Coast who want to build their own home and realise that they need to act quickly so they don’t miss out on their preferred block,” he said.
“There’s an increasing shortage of land available across the city, when compared with established homes and apartments, so buyers are learning to pre-register for lots so they don’t miss out.
“Location remains a major factor for most purchasers – and with Big Sky positioned at the heart of Coomera, minutes from schools, shops, theme parks and the motorway, it’s not surprising that we have people lining up to live here.” The sold-out Taurus and Capella land releases in Big Sky comprised 45 homesites ranging between 340sq m and 928sq m, across a 3.6ha parcel of land. Prices started from $204,900.

News Ltd.

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http://www.valuebuddies.com/thread-5625-...#pid122439

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AV Jennings sees growth ahead

• AAP
  
• NOVEMBER 20, 2015 1:55PM
  

[b]Home builder AV Jennings has reaffirmed its full-year construction outlook, stressing the Sydney and Melbourne housing markets still have plenty more to give.[/b]
The house and land packages group (AVJ) shrugged off recent negative sentiment towards the residential housing market, confirming it would secure contract signings for 1800 to 2100 lots by June 2016.
“The board remains confident in continued performance and reaffirms that guidance,” managing director Peter Summers told shareholders at the company’s annual meeting today.
Chairman Simon Cheong said the level of contracts carried over into the first half of the 2016 financial year has already given business a boost.
“Whilst acknowledging a traditional bias to the second half, the forthcoming financial year is already shaping up well,” he said.
Mr Cheong said key economic drivers were positive, with strong consumer confidence bolstering the housing sector.
Low interest rates and inflation, increased population growth and persisting housing shortages in Sydney and Auckland were also driving demand, he said.
Mr Summers acknowledged there had been considerable speculation about the future of Australia’s housing market in recent months, which sparked negative sentiment in residential companies on the stock exchange.
But the Melbourne market, excluding apartments, was still well undersupplied and the company’s position was sound, he said.
And in Sydney, the significant undersupply of apartments and homes in the preceding decade had dulled the impact of an increase in production.
“We strongly believe this part of the market has a sustained period of strong market conditions ahead,” Mr Summers said.
Brisbane conditions were tipped to improve, with a shortage of housing that could be exacerbated if interstate migration numbers increased towards longer term trends.
And while Perth and Adelaide remained challenging, Mr Summers said the company’s exposure to those markets was appropriate.
And he stressed that AV Jennings had a sustainable customer base, noting less than 1 per cent of buyers were foreigners.
Mr Summers said he was confident of meeting the challenges of affordability in the future but called on all levels of government to review taxes such as the GST and stamp duty to ease the burden for buyers.
The comments come after the company in August reported an 83 per cent lift in full-year profit to $34.4 million.

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• Nov 20 2015 at 12:36 PM 
  

AVJennings dismisses housing sector doubts

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[img=620x0]http://www.afr.com/content/dam/images/g/l/3/o/r/8/image.related.afrArticleLead.620x350.gl31ul.png/1448001709886.jpg[/img]AVJennings chief executive Peter Summers supplied
[Image: 1426320916439.png]

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by Nick Lenaghan
AVJennings chief executive Peter Summers has dismissed gloomy talk the housing boom is running out of steam, with Sydney still a long way short in making up years of under supply.
Mr Summers' assurance to shareholders at their annual meeting on Friday comes in the wake of bumper 78 per cent lift in profit before tax for the 2015 financial year.
The result was driven by surging sales, with the residential developer reaffirming guidance of an expected 1,800 to 2,100 contract signings for 2016.
In the 2015 financial year the developer signed buyers for 1737 lots. In 2014 it booked just 1400 signings.
[img=620x0]http://www.afr.com/content/dam/images/1/m/v/d/q/x/image.imgtype.afrArticleInline.620x0.png/1430208289969.jpg[/img]The Axis - display home by AV Jennings
But those strong results follow a record of more than 200,000 housing starts in the last year, prompting concerns the residential building sector has peaked and spurring sharp questions from analysts on how secure listed developers' earnings are in the years ahead.
While the strength and extent of the recovery is still moot,  Mr Summers was confident "a more thorough analysis" showed there was plenty more of the boom to build.
Sydney has experienced increased production of both apartments and other residential products, he said.
"But the huge shortfall of housing that has been built up through a lack of supply for over a decade continues to dominate the market drivers.


"In particular, the non-apartment market has been slower to respond to this shortage due to the need for greater infrastructure such as water, power, roads.
"We strongly believe this part of the market has a sustained period of strong market conditions ahead."
In Melbourne, where the Reserve Bank of Australia and others have warned of a potential oversupply, Mr Summers agreed there had been a "significant increase" in production of apartments.
But markets excluding apartments were still well under supplied in the Victorian capital, he said.

"Even within the apartments segment, most of this rapid increase in production has been in certain pockets.
"In other areas, the demand for apartments is still solid, as shown by our research for our new project at Williamstown."
Mr Summers said there were improved conditions ahead in the Brisbane market, especially as interstate migration picks up. Adelaide, however, was a challenging market, and Perth's prospects were not bright. 
The AVJennings chief also tackled the second spectre haunting the equities market: concerns that development boom has been driven too much by investors.

Some 26 per cent of AVJennings are local investors and around 1 per cent are foreign buyers.
"Most investors in residential are not speculators but every day Australians," Mr Summers said.
"So whilst we understand the factors which have led to the recent negative sentiment towards residential markets, we do not agree with the conclusions that have been reached overall and certainly not in terms of the markets in which your company operates," he told the meeting. 

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500th home at Hobsonville completed


542 words
24 Nov 2015
ForeignAffairs.co.nz
PARALL

English

http://milnz.co.nz/mil-osi-aggregation/ -
Source: New Zealand Government - Press Release/Statement:
Headline: 500th home at Hobsonville completed
The Government today marked the 500th completed home at Hobsonville Point and the launch of a new precinct at the Auckland housing development with a visit by the Prime Minister and Building and Housing Minister Dr Nick Smith.
“Hobsonville Point is New Zealand’s largest residential development and is at the forefront of building new supply, more intensive housing and integrated communities. It epitomises the scale and momentum the Government wants to achieve. There are 524 homes completed and another 389 under construction. This number is exceeded by the 920 sold, indicating the strong demand and sales being made off the plans,” Dr Smith says.
“Today’s announcement by Hobsonville Land Company to partner with AVJennings to develop 540 new dwellings at the Buckley B precinct will accelerate this growing supply of new homes. Hobsonville Land Company decided in June with the Government’s approval to bring forward the development of these homes in response to strong demand. These homes would not have been available until 2019 under the previous schedule, but will now come on-stream from 2017 - providing new homes faster to help address Auckland’s housing need. It is an added bonus that 30 per cent of the houses in this precinct will be priced at under $550,000 - a higher proportion of affordable houses than the 20 per cent already provided for at the development.”
Hobsonville is former Defence Force land that is being developed by Hobsonville Land Company, a Housing New Zealand subsidiary. The first sod for housing at the site was turned in 2002 by the then-Prime Minister but no further work was done, as the project became mired in planning disputes. The National-led Government revived a housing plan for the land in 2010. The land was given Special Housing Area status under the new Housing Accords and Special Housing Areas Act, and earthworks were consented a week later.
The Hobsonville Point development also includes parks, playgrounds, cycleways, walking tracks, a farmers market and new schools. In 2013 the Mayor of Auckland and the Prime Minister opened the new ferry terminal and service to downtown Auckland.
“Development at Hobsonville Point is advancing at an unprecedented scale in New Zealand. There are around 350 houses now coming onto the market each year and the community already has a population of 1300. There is a new primary school and secondary school, as well as a medical centre, restaurants and new shops.
“Hobsonville is one of many initiatives by the Government to address Auckland’s housing challenge. Yesterday I released the latest figures showing uptake for our KiwiSaver HomeStart scheme had doubled since the last quarter, with 4261 grants approved for first home buyers. We are also continuing to free up more land under the Auckland Housing Accord, with the eighth tranche of Special Housing Areas also announced yesterday bringing the total potential yield of new homes for the city to more than 48,000.
“The next steps in our programme are advancing new housing on Crown-owned land in Auckland, consulting on a new Urban Development National Policy Statement, and reform of the Resource Management Act.”

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AVJennings targets major Sydney development site
Mercedes Ruehl and Robert Harley

366 words
26 Nov 2015
The Australian Financial Review
AFNR

English

ASX-listed home builder AVJennings is poised to buy a major development site in Sydney's south-west for about $50 million from the NSW government's urban transformation arm, UrbanGrowth NSW.
UrbanGrowth is moving towards an exit from the land development business, and has sold hundreds of millions of dollars worth of sites to developers over the last year.
The Spring Farm site AVJennings is buying is one of a portfolio of four major land subdivision sites in Sydney that UrbanGrowth put on the market earlier in the year through Colliers International. The sites, which altogether comprise more than 4500 lots over 571 hectares, are located at Mittagong (Renwick), Spring Farm, Edmondson Park and Menangle Park.
Earlier this month, The Australian Financial Review reported that Shanghai-based Dahua Group had paid around $500 million for Edmondson Park and Menangle Park. The two sales could fast-track development of around 3580 homes and accelerate housing supply in the area.
The Mittagong greenfield site, which is expected to yield 345 lots, is also close to being sold to a separate buyer.
Spring Farm, located in Sydney's fast-growing south-west growth corridor, has about 540 lots. It is located close to AVJennings' master-planned community at Elderslie in Camden. The 500-lot development was a joint venture with Investa Land, but, following Investa Land's sale to private equity firm Proprium, AVJennings has taken full control.
AVJennings and UrbanGrowth declined to comment, as did selling agents Guillaume Volz, Andrew Graham and Fab Dalfonso of Colliers International.
Since March 2014, under chairman John Brogden, UrbanGrowth has had a mandate to plan and deliver major urban transformations. Proceeds from the sales will be mostly re-invested into new urban transformation projects, David Pitchford, chief executive of UrbanGrowth, told the Financial Review earlier this month.
Separately, UrbanGrowth is also selling sites at Lachlan's Line and Wentworth Point, which are tipped to fetch more than $550 million combined. Chinese government-backed Greenland Group is the likely buyer of the Lachlan's Line site at Macquarie Park in Sydney's north, although the sale has not been confirmed.

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