• Ongoing headwinds across the residential property market in Victoria
• Gradual recovery in sales rate, with 50 net sales in Q3 FY25
• Positive progress on strategic priorities including inventory and land sales

Lifestyle Communities Ltd (ASX: LIC) has provided a trading update for the quarter ended 31 March 2025 (Q3 FY25). The company reports that the operating environment remains challenging, with ongoing headwinds across the residential property market in Victoria. However, the results for the March quarter highlight a directional improvement in the sales rate compared to previous quarters. In Q3 FY25, the company recorded 1,234 leads, 266 appointments, 71 gross sales, and 50 net sales, an improvement from the previous quarter. CEO Henry Ruiz noted that while sales rates remain below historical levels, the company is encouraged by the progress and will continue to focus on executing its stated strategy. The company has made positive progress on its strategic priorities, including reducing excess inventory levels and advancing land sales. Lifestyle Communities is confident of achieving its target of releasing $80-100 million from land sales, which will be used to pay down debt. The company remains confident in the long-term outlook, citing the strong underlying demand from homeowners seeking to downsize for lifestyle and financial reasons.

The company expects Q4 sales rates to remain subdued, impacted by seasonality, the Easter holiday period, and the upcoming federal election. However, the CEO remains confident in the long-term outlook for the business, citing the strong underlying demand from homeowners seeking to downsize.