Summerset Group recorded 290 occupation right sales for the quarter ending 31 March 2025, comprising 132 new sales and 158 resales.
Summerset Chief Executive Scott Scoullar said total sales for the first quarter were 14 percent higher than the same period in 2024. Resales saw a 31 percent uplift, while new sales dipped slightly year-on-year.
“This is a pleasing start to the year,” said Scoullar.
“January was quite slow, as is typical while our prospective residents are on holiday, but we had a strong February and March.”
Looking ahead, Scoullar said the company entered the second quarter with a strong pipeline.
“We’ve seen a 32 percent year-on-year increase in contracted new sale stock compared to the first quarter of 2024, which we’ll be working through to settlement.”
He noted that Summerset’s broad regional presence continued to support its performance.
“Our geographical diversity once again proved its strength, with almost every region in New Zealand seeing increased sales compared to last year.”
Half of the group’s sales in the quarter came from outside the main centres of Auckland, Wellington and Christchurch, which Scoullar said reflected healthy demand across the country.
Summerset remains on track to deliver between 650 and 730 homes across New Zealand and Australia in 2025. This includes the company’s first village centre in Australia, located at Cranbourne North.
YTD25 Sales of Occupation Rights
| Type | 1Q25 | YTD25 |
|---|---|---|
| New sales | 132 | 132 |
| Resales | 158 | 158 |
| Total | 290 | 290 |
FY24 Sales of Occupation Rights
| Type | 1Q24 | 2Q24 | 3Q24 | 4Q24 | FY24 |
|---|---|---|---|---|---|
| New sales | 134 | 156 | 129 | 169 | 588 |
| Resales | 121 | 177 | 160 | 192 | 650 |
| Total | 255 | 333 | 289 | 361 | 1238 |
- Occupation right sales volumes represent the number of occupation rights settled in the period and differ from
retirement unit deliveries which represents the number of new homes for which construction was completed in the
period. - The quarterly sales metrics provided may not necessarily reflect NZ IFRS financial performance for the
corresponding period. In particular, key items in the income statement, such as the fair value movement of
investment property, are dependent on several variables, of which one is occupation right sales. NZ IFRS
financial performance is calculated for the periods ending 30 June and 31 December each year.
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