SUM - SALES OF OCCUPATION RIGHTS

Tuesday 8th April 2025

Summerset Group reported 290 sales for the quarter ending 31 March 2025, comprising 132 new sales and 158 resales.

“Total sales for Q1 this year were 14% higher than the same time last year, with resales increasing by 31%, while new sales were down slightly year-on-year,” says Summerset CEO Scott Scoullar.

“This is a pleasing start to the year, January was quite slow, as is typical while our prospective residents are on holiday, but we had a strong February and March.

“As we move into Q2 we have a solid pipeline of contracts, which we’ll be working through to settlement. We’ve seen a 32% year-on-year increase of contracted new sale stock compared to Q1 2024.”

Mr Scoullar said Summerset’s geographical diversity continued to show its strength in Q1 with almost every region in New Zealand seeing increased sales year-on-year.

“We achieved a good balance of sales throughout the country with 50% of our sales coming from outside Auckland, Wellington and Christchurch during this quarter.”

Mr Scoullar said the company remains on track to build 650-730 homes across New Zealand and Australia in 2025, including delivery of its first village centre in Australia at Cranbourne North.

ENDS

1Q25 METRICS – SALES OF OCCUPATION RIGHTS

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