AVJennings swings to FY profit

By AAP

Chief executive Peter Summers says he expects the housing market will continue to recover on the back of stronger consumer confidence and low interest rates. "We entered FY2014 with only NSW starting to enter into a recovery market," he said on Thursday as the company. "But this financial year we've got NSW in full recovery, Queensland entering into a stronger property cycle, Victoria stabilising and improving a bit, and Auckland continuing to go strong.

While the jobless rate is at a 12-year high of 6. 4 per cent and expected to rise, Mr Summers did not expect this to reverse the housing recovery. "Most people are confident in their existing jobs, the unemployment rate is really an issue when people get insecure about their future," he said. "And while those headline numbers are up, I don't think that has been accompanied by a level of anxiety.

Read more here: Business Spectator

    

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