3Q22 Metrics – Sales of Occupation Rights

Summerset Group Holdings Limited
Level 27 Majestic Centre, 100 Willis St, Wellington
PO Box 5187, Wellington 6140
Phone: 04 894 7320 | Fax: 04 894 7319
Website: www.summerset.co.nz




NZX & ASX RELEASE

10 October 2022


3Q22 METRICS – SALES OF OCCUPATION RIGHTS
Summerset Group is pleased to report 219 sales for the quarter ending 30 September 2022,
comprising 109 new sales and 110 resales. The total sales are 10% higher than Q3 2021 (199
total sales).
Summerset has now achieved 730 sales for the nine months to 30 September 2022, compared
with 744 sales achieved over the same period in 2021.
Summerset CEO Scott Scoullar said the result was pleasing and demand for retirement living
was strong.
“While the wider property market has seen a decline, interest in our villages has remained robust
throughout Q3. Our waitlists grew five percent during the quarter with average levels of new
monthly enquiries up approximately 15% compared with the first half of the year and up 18%
compared to Q3 2021.
“Also, we expect overall sales for 2022 to be weighted towards Q4, due to strong numbers of
presold units being delivered later this year.
“Our residents’ motivation to buy is driven by life events, such as their health or desire for more
community, these factors don’t change in a downturn. We offer a range of homes at differing
price points, typically below the median house price, which means we’re still appealing to future
residents.
“Also, our resale villages have maintained low levels of uncontracted stock and presales
continue to track at historically high levels,” said Mr Scoullar.
“The good diversification of our sales continued this quarter also, with new sales distributed
across 10 regions and approximately 60% of the sales coming from outside Auckland,
Wellington and Christchurch.”
Resales village volumes also showed good diversification with half of total resales occurring
outside the main centres.
Mr Scoullar said Summerset’s build programme continues to meet expectations too, remaining
on track to deliver more than 600 homes this year.

“Looking ahead, we have a robust delivery pipeline for Q4 with the main building at Kenepuru on
track to be delivered and residents moving in early 2023.”

YTD22 SALES OF OCCUPATION RIGHTS


1Q22

2Q22 3Q22 YTD
New sales 167 122 109 398
Resales 112 110 110 332
Total 279 232 219 730


FY21 SALES OF OCCUPATION RIGHTS

1Q21 2Q21 3Q21 4Q21 FY21
New sales 148 154 117 121 540
Resales 127 116 82 113 438
Total 275 270 199 234 978

NOTES:
• Occupation right sales volumes represent the number of occupation rights settled in the period and differ from
retirement unit deliveries which represents the number of new homes for which construction was completed in the
period.
• The quarterly sales metrics provided may not necessarily reflect NZ IFRS financial performance for the
corresponding period. In particular, key items in the income statement, such as the fair value movement of
investment property, are dependent on several variables, of which one is occupation right sales. NZ IFRS
financial performance is calculated for the periods ending 30 June and 31 December each year.


For investor relations enquiries: For media enquiries:
Will Wright Louise McDonald
Chief Financial Officer Senior Communications Advisor
will.wright@summerset.co.nz louise.mcdonald@summerset.co.nz
021 490 251 021 246 3793


ABOUT SUMMERSET

• Summerset is one of the leading operators and developers of retirement villages in New
Zealand, with 36 villages completed or in development nationwide
• In addition, Summerset has 7 proposed sites at Half Moon Bay (Auckland) Milldale
(Auckland), Parnell (Auckland), Rotorua (Bay of Plenty), Kelvin Grove (Palmerston
North), Masterton (Wairarapa), and Rangiora (Canterbury)
• Summerset also has six properties in Victoria, Australia, bringing the total number of
sites to 49.
• Summerset provides a range of living options and care services to more than 7,100
residents.