With the first houses built at its first venture in Australia, Summerset Cranbourne North (pictured), 39km southeast of Melbourne’s CBD, the New Zealand operator today announced record sales for the fourth quarter and the whole financial year.
Summerset's sales increased 30% compared to Q4 last year, with 360 sales for the quarter, which was made up of 186 new sales and 174 resales. Overall, the Wellington-based operator achieved a record full year result, with 1,103 total settlements for 2023.
Summerset Retirement Villages CEO Scott Scoullar said despite the slowness and unpredictability of the New Zealand residential property market, the group still achieved a record number of settlements.
"These are [the] result of our strategic focus to target when and where we want to build our retirement villages,” said Scott.
“Our build programme can flex up and down to meet demand and with villages across all the main centres and most regions, we are able to appeal to a large number of New Zealanders.”
Summerset is home to more than 8,000 residents across New Zealand, with the first Australian residents due to move into Cranbourne North village in 1Q24.
"While continuing to grow, delivering exceptional customer experiences that bring the best of life to residents continues to be at the heart of our philosophy and strategy. Our resident satisfaction scores for the year were excellent, achieving 96% satisfaction amongst village residents, and 95% for care residents." Scott said.
Summerset will announce its FY23 financial results on 26 February.
You can browse retirement villages across Victoria on villages.com.au.
