over supply of brisbane units

Lendlease says Brisbane's unit oversupply will peak this year and is bracing for rising defaults on settlements in the short-term as buyers fail to complete purchases. 
The developer, Australia's best-performing real estate company over the past year, also said in an investor presentation on Friday the royal commission had driven a tighter lending environment but it was too early to estimate the effect on its residential portfolio.
Lendlease shares closed up 39¢, or 2.1 per cent at $19.29 on Friday after Kylie Rampa, the company's Property Australia division head, said the profit margin for outstanding settlements was covered by provisioning carried out in the company's first-half results and that she expected Brisbane's market to strengthen in the medium term. 
The stock has gained 16 per cent over the past 12 months, more than any other company on the 23-member S&P/ASX 200 Real Estate Index