Retirement village operator, Summerset Group, has reported record sales of occupation rights for the fourth quarter of 2023.
There were a total of 360 sales, including 186 new sales and 174 resales.
This was a 30% increase in total settlements compared to the same quarter in 2022.
The strong performance in the fourth quarter also contributed to Summerset's record full-year result, with 1,103 total settlements for the twelve months to 31 December 2023.
The company's CEO, Scott Scoullar, said it was an excellent result, especially considering the challenging market conditions.
He attributed the success to the high demand for Summerset's villages and the strategic focus on target locations for development.
Summerset has seen continued growth and is now home to more than 8,000 residents across New Zealand.
It has also welcomed its first Australian residents in Cranbourne North.
The company expressed optimism for the year ahead, citing positive signs of improvement in the residential property market and strong levels of demand and pre-sales.
Summerset will release its full-year results for the period on 26 February 2024.
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