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Properties can be seen along the coastline in the Sydney suburb of Clovelly, Australia, July 19, 2015. Australia's central bank sees scope for yet lower interest rates as inflation stays in the sweet spot for stimulus, though the bar for action is high given concerns it could lure households into taking on too much debt. The easing has fuelled a much-needed boom in home building, but has also triggered a rush of investment demand for property and a rapid rise in Sydney house prices. Picture taken July 19, 2015. Reuters/David Gray

High demands in the real estate market have boosted profit for Barangaroo property developer Lend Lease with a record of AU$5.2 billion presales. It believes that the housing market will reach its saturation point soon with demands in the housing markets remaining as strong.

Growing population, overseas investors and low interest rates are reasons demands in this sector have remained consistent. Lend Lease has also benefited greatly from the strong property markets. In fact, it allowed Lend Lease to double its revenue from pre-sold residential projects.

Sydney Morning Herald reported that it took only five hours for the entire second phase of residential development at Darling Square of Sydney to be sold out. On the other hand it recorded 90 percent of its presales in Victoria Harbour project in Melbourne and The Yards in Brisbane Showgrounds.

But Steve McCann, chief executive of Lend Lease, said that certain counteracting factors such as restrictions on bank credits, a cap on lending in a few sectors and greater balance in demand and supply should maintain the stability in the strength of the property market. "At this stage though, we have not seen any impact from these changes," he said.

He also said that the coming years will see brighter days as higher demands in residential properties in Australia and Britain would continue to carry on. "In the last year our pre-sold residential revenue has more than doubled to $5.2 billion, with the related revenue to begin emerging as profit and cash from the 2016 financial year onwards," he said.

Earnings per share have recorded a fall this year which laid down a huge profit last year with the sale of the Bluewater Shopping Centre in the U.K. But despite the dip, the company claims to have had a standout year with its Australian and American businesses having acquired a steady pace and the earnings that stemmed from the under management and infrastructure projects giving it an overall boost.

“In the last year our pre-sold residential revenue has more than doubled to $5.2bn, with the related revenue to begin emerging as profit from fiscal 2016 onwards,” said McCann.

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