NEW ZEALAND | Resale activity at Summerset and Ryman Healthcare improved during the September quarter, with both retirement village operators reporting stronger demand for established units despite continued weakness in the housing market.
The results, released last month, suggest buyer interest is holding up, although the ability of prospective residents to sell their existing homes remains a factor in settlement timing.
Summerset reported 415 occupation right sales for the three months to 30 September, comprising 175 new sales and 240 resales. Resales increased 36 percent compared with the same quarter last year and were ahead of the 227 recorded in the June quarter.
For the first nine months of 2026, Summerset recorded 1,228 sales, up 10 percent year on year, with resales increasing 27 percent. Chief Executive Scott Scoullar said Canterbury was a standout region, recording 63 sales compared with 37 in the previous quarter.
“Our resales performance was strong and we were pleased to see demand turning into sales across our established villages this quarter,” said Scoullar.
Ryman Healthcare reported 379 occupation right agreement sales for the same period, including 312 resales and 67 new sales.
Resale volumes increased 14 percent year on year, reaching their highest level in eight quarters. Net resale contracts, an indicator of future sales, were also up 11 percent compared with the previous year.
Ryman's aged care occupancy reached 94 percent, an increase of 3.3 percentage points year on year. The company also reduced its stock of unsold new retirement living units by 67 during the quarter, bringing the total to 347.
Chief Executive Naomi James said demand for serviced apartments remained strong, supported by the growing need for assisted living.
Both operators are managing their sales and development programmes against a housing market that continues to affect prospective residents' ability to complete purchases.
Summerset said its increase in the deferred management fee to 30 percent, announced in August, had not materially affected contracting rates.
Ryman has continued to reduce unsold inventory and expand its pricing and product options, including services designed to improve affordability and support residents as their care needs change.
The stronger resale figures are encouraging for operators, particularly where existing village stock is generating additional sales activity. However, the results do not necessarily signal a broader recovery in the residential property market.
For retirement village operators, the next consideration will be whether stronger enquiry and contracting activity translate into sustained settlements, particularly while prospective residents remain dependent on selling their existing homes.
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