SUM - 1Q24 Metrics - Sales of Occupation Rights

Tuesday 9th April 2024

Summerset Group reported 255 sales for the quarter ending 31 March 2024, comprising 134 new sales and 121 resales.

“Total sales for Q1 this year were 21 per cent higher than the same time last year, with both new and resales increasing year-on-year,” says Summerset CEO Scott Scoullar.

“Our highest selling villages of the quarter were Te Awa (Napier), Papamoa and Bell Block (New Plymouth). All three villages have had their main building open in the last six months and are selling very well.

Mr Scoullar said the company remains on track to deliver the 675-725 homes in 2024 including significant deliveries such as its Papamoa village main building which opened in Q1 and the opening of the St Johns village in the second half of the year.

“We also remain on track to deliver the main building at our Boulcott (Lower Hutt) village later this year. The building will include an indoor pool overlooking the Boulcott Farm Heritage Golf Course.”

Summerset hit a major milestone in Q1 with the first Australian residents moving into Summerset Cranbourne North (Melbourne, Victoria) in March and more contracts expected to settle at the village in Q2.

“Welcoming our first residents was a major step for the Australian team,” says Mr Scoullar.

ENDS

1Q24 Metrics - Sales of Occupation Rights

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