GPT's Bob Johnston warns housing downturn could weigh on retail
Nick Lenaghan and John Kehoe
Updated
Bob Johnston, managing director of diversified property fund manager GPT Group, has warned the housing slowdown could flow through into the retail sector as people worry over falling home prices.
The warning came as GPT booked a 14.5 per cent lift in full-year 2018 net profit to $1.45 billion, driven by a big lift in office property revaluations combined with buoyant income from its Sydney and Melbourne towers.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
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