Summerset Group reported 2022 Q1 Sales of Occupation Rights

Monday 11th April 2022

Summerset Group is pleased to report 279 sales for the quarter ending 31 March 2022, comprising 167 new sales and 112 resales.

Summerset CEO Scott Scoullar said this was the company’s second highest quarter on record and highest ever Q1.

“Despite the challenges the Omicron outbreak has posed right around New Zealand, sales continue to be extremely strong, with 2022 having our best ever Q1 for both new sales and total sales.”

“We have good diversification of sales across the country with 55% of sales coming from outside the Auckland, Wellington and Canterbury regions,” said Mr Scoullar.

Uncontracted new stock remains low at 251 units across the country, including only 63 villas available nationwide.

Summerset starts construction at three new sites in 2022, Blenheim (Marlborough), Cambridge (Waikato) and Waikanae (Kapiti Coast) and will continue construction at 13 other sites around New Zealand. Construction began last year at Summerset’s first Australian site, Cranbourne North in Melbourne.

“We continue to build on a large number of sites simultaneously and remain the largest New Zealand constructor in the New Zealand retirement village sector,” said Mr Scoullar.

“It’s really pleasing to see our plans in Australia taking shape. Cranbourne North is well underway, and we have land for four other proposed villages in Victoria. We’re really excited to introduce older Australians to our high-quality integrated model of village living.”

ENDS

1Q22 Metrics - Sales of Occupation Rights

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