2Q22 Metrics - Sales of Occupation Rights

NZX & ASX RELEASE

11 July 2022

2Q22 METRICS – SALES OF OCCUPATION RIGHTS

Summerset Group is pleased to report 232 sales for the quarter ending 30 June 2022, comprising 122 new sales and 110 resales.

Summerset has now achieved 511 sales for 1H22, the second highest first half ever.

1H22 new sales of villas (182) were supported by 221 deliveries (all villas) over this period.

Summerset is on track to deliver approximately 600 homes in FY22. Demand remains strong, with our resale villages maintaining low levels of uncontracted stock and presales continue to track at high levels.

Summerset CEO Scott Scoullar said the result was very pleasing, particularly with Omicron dominating most of the half.

“We’re very pleased to see our sales and demand remain high during a turbulent six months for New Zealand. Despite the arrival of Omicron and a downturn in the housing market our retirement living offering is still very attractive to older New Zealanders and they continue to join our villages around the country” said Mr Scoullar.

“We continue to see good diversification of sales across the country with 48% of sales coming from outside the Auckland, Wellington and Canterbury regions. We also look forward to welcoming our first residents into our Prebbleton village in Christchurch in Q3 2022.”

Summerset has started construction at three new sites in 2022 (Blenheim, Cambridge and Waikanae) and is continuing construction at 13 other sites around New Zealand.

ENDS

For investor relations enquiries:
Will Wright
Chief Financial Officer
[email protected]
021 490 251

For media enquiries:
Louise McDonald
Senior Communications & Media Advisor
[email protected]
021 246 3793

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