Retirement village developer, owner & operator Summerset Group Holdings Ltd started 2018 well short of its performance in the first quarter last year – 143 sales, down from 171.
Resales held up (75 this time, 74 last time) but sales of new retirement village units fell from 97 to 68 for the quarter.
Chief executive Julian Cook said on Friday serviced apartments, whose occupancy was more needs-based, made up a large proportion of the retirement units held at year end, and these typically had a slightly longer selldown period than villas & apartments.
“Retirement unit deliveries for 2018 are weighted towards the second half of the year, with new sales volumes throughout the remaining quarters of 2018 expected to progressively increase as we deliver new homes for which we will sell occupation rights. We are on track to deliver 450 new homes over 2018.
“We are seeing good volumes of resales across our villages, and have seen settlements track at normal levels for the first quarter.”
New sales & resales for last 5 quarters:
Attribution: Company release.