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  • Retirement village developer Summerset Group (SNZ) achieves its second highest first half of a calendar year
  • The New Zealand-based company brought in 232 sales for the second quarter ending June 30, comprising 122 new sales and 110 resales
  • It follows Summerset’s highest first quarter on record which saw 279 sales for the quarter ending March 31, 2022
  • This takes half year sales to 511 and the company says it is on track to deliver approximately 600 homes for the full year
  • SNZ shares last traded at $8.98 on July 8

Retirement village developer Summerset Group (SNZ) has achieved its second highest first half of a calendar year.

The New Zealand-based company brought in 232 sales for the second quarter ending June 30, comprising 122 new sales and 110 resales.

It follows a record first quarter, which saw 279 sales for the quarter ending March 31, 2022.

This takes the half year sales to 511 and the company said it is on track to deliver approximately 600 homes for the full year.

Given the Omicron wave dominated most of the first half of 2022, Summerset CEO Scott Scoullar said the result was “very pleasing”.

“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,” he said.

Moving in to the second half of the year, the company has begun construction at three new sites including, Blenheim, Cambridge and Waikanae, while construction continues at 13 other sites around New Zealand.

Company shares last traded at $8.98 on July 8.

SNZ by the numbers
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