SNZ.ASX: 4Q24 Metrics - Sales of Occupation Rights

4Q24 Metrics - Sales of Occupation Rights

Stock	Summerset Group Holdings Ltd (SNZ.ASX)
Release Time	7 Jan 2025, 7:30 a.m.
Price Sensitive	Yes

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Summerset Reports Strong 4Q24 Sales of Occupation Rights

Key Points

361 sales in Q4 2024, comprising 169 new sales and 192 resales
Highest ever full year result of 1,238 total settlements, up 12% over FY23
Resale volumes led by Casebrook and Avonhead villages

Full Summary

Summerset Group Holdings Limited has reported strong sales of occupation rights for the quarter ending 31 December 2024. The company recorded 361 sales in Q4 2024, comprising 169 new sales and 192 resales. This represents a solid result, with total settlements for the full financial year reaching 1,238, an increase of 12% over FY23. The company saw particularly strong resale volumes, led by its Casebrook and Avonhead villages, reflecting the growing number of fully completed and established Summerset villages across New Zealand. Outside of Auckland, Wellington and Christchurch, Summerset's villages in PÄpÄmoa, Te Awa and Richmond were among the strongest performers for new sales in the quarter. In Australia, the company's Cranbourne North village continued to perform well as new stages of homes were released. Summerset CEO Scott Scoullar noted that this was an encouraging result to end the year, especially given the challenging market conditions. He highlighted the company's strong pipeline of committed sales contracts heading into 2025 across its New Zealand and Australian operations.