CORRECT: Summerset feels pinch of slowing housing, construction market

Tue, 30 Apr 2019

(Corrects transposed completed units figure in 8th paragraph, updates shares in 7th paragraph) By Jenny Ruth April 30 (BusinessDesk) - Summerset Group has scaled back its development programme temporarily due to the slowdown in the housing market, particularly in Auckland and Christchurch. The retirement village operator was quizzed about its development pace by shareholders at its annual meeting in Wellington. One shareholder highlighted that Summerset built 454 units in calendar 2018, slightly more than in the previous year, but sold...

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