Summerset Group Holdings Ltd’s sales of retirement village occupation rights slipped in the second quarter, taking half-year sales 7% below the performance in the first half last year.
Chief executive Julian Cook said total sales were stable over the 2 quarters, but in both categories they were down on 2018.
However, he said 3 villages would open soon – Avonhead (Christchurch), Richmond (Nelson/Tasman) & Kenepuru (Wellington) – and he expected higher sales volumes in the second half.
He said the stock of new units had stayed flat over the first half the year and sales had been in line with the volume of homes completed.
Summerset has 26 retirement villages completed or in development.
|Occupation right sales:|
|New sales 2019||71||65||136|
|New sales 2018||68||77||145|
Attribution: Company release.