Summerset achieves record sales quarter amid strong retirement demand

Summerset Group Holdings (NZX:SUM) announced a record 402 sales of occupation rights for the second quarter of 2025, comprising 222 new sales and 180 resales. This marks the company's highest quarter ever, with first half total sales reaching 692, an 18% increase compared to the first half of 2024. CEO Scott Scoullar attributed the success to hard work and continued high demand for Summerset's retirement living offering. Over 46.7% of sales originated from outside Auckland, Wellington, and Christchurch. The company also noted a decrease in uncontracted new sale stock and an increase in contracted new stock. Summerset remains on track to deliver its FY25 forecast of 650-730 homes, including the completion of village center buildings in Cambridge and Cranbourne North, as well as the first villas at the Chirnside Park village. The HY25 results will be released on August 28, 2025.