Summerset Group Holdings Posts 17% First Half Sales Growth on 448 Q2 Sales

Summerset delivers 448 occupation right sales in Q2 2026 as first-half momentum builds

In its 2Q26 metrics update for the quarter ending 30 June 2026, Summerset Group Holdings reported 448 occupation right sales, comprising 221 new sales and 227 resales. The result capped a strong first half, with total sales for the six months to 30 June up 17% on the same period a year earlier.

The New Zealand retirement village operator recorded new sales broadly in line with Q2 2025, while resales climbed 26% on the prior comparative quarter. Across the year to date, Summerset settled 813 total occupation right sales, split between 398 new sales and 415 resales.

Q2 2026 sales performance and half-year comparison

The second-quarter result reflected steady demand across both new sales and resales. First-half sales rose 17% year-on-year, with new sales up 12% and resales up 23%, according to the company.

Product mix shifted toward care and apartment sales during the period, consistent with the delivery of four new village centres in the first half. The table below sets out occupation right sales across the year to date against the prior financial year.

Total new sales figures include care bed conversions, which contributed 33 to the second-quarter total and 60 across the year to date.

Scott Scoullar, Chief Executive

“Our total first half (1 Jan – 30 Jun) sales were up 17% on the same period last year, with new sales up 12% and resales up 23%.”

New village centres and Auckland momentum

Summerset’s four new village centre buildings, opened during the first half of the year, showed encouraging early demand. Each building supports the care, support and amenity offering that management identified as central to the resident experience.

Occupancy and under-contract levels across the new buildings were reported as follows:

• Cambridge: 45% of available serviced apartment, care and memory care stock occupied or under contract

• Whangārei: 43% occupied or under contract

• Waikanae: 30% occupied or under contract

• Cranbourne North (Victoria): 21% of the village centre building assisted living apartments occupied or under contract

Sales momentum at Summerset St Johns in Auckland also continued through the quarter. Scoullar described St Johns as one of the company’s strongest-performing new sales villages, averaging 1.6 sales per week in Q2. He noted the village represents a significant investment for Summerset and that demand for the high-quality retirement living offering in Auckland had continued.

These village centre buildings drive the care and amenity offering central to resident experience and support the care and apartment sales that featured prominently in the quarter’s product mix.

Understanding occupation rights and the retirement village model

Sales volumes in this update represent the number of occupation rights settled during the period.

This measure is distinct from retirement unit deliveries, which reflect the number of new homes for which construction was completed in the period. The two metrics can move independently, since a home may be built in one period and its occupation right settled in another.

Summerset noted that the quarterly sales metrics may not necessarily reflect NZ IFRS financial performance for the corresponding period. Formal financial performance is calculated for the periods ending 30 June and 31 December each year, with items such as fair value movements on investment property dependent on several variables.

For investors, the volume and mix of sales, across villas, apartments and care, influence development margins, making the quarterly cadence a useful indicator of underlying demand.

Disciplined build programme amid economic caution

Following the start of the Iran conflict, Summerset took prudent decisions to reduce its New Zealand build rate, reflecting the change in economic conditions. Management noted their flexibility to react to external factors or demand, and could increase or decrease the programme as required.

Key delivery guidance included:

• New Zealand deliveries FY26: between 600–650 new homes, a reduction in build rate of 50 homes

• Australia: on track to deliver the forecast 100–150 homes

• Group deliveries: expected to stay within the 700–800 homes forecast

• Homes delivered so far in 2026: 454 across both countries

Scoullar noted the company retained flexibility in its build programme to react to external factors or demand, and could increase or decrease the programme as required. Development margin for the year is expected to sit within the long-term guidance range of 20–25% following the delivery of the four new village centres, consistent with guidance given in February 2026. Resale margins are expected to remain in line with 2025 levels.

What’s next for investors

Summerset will release its half-year 2026 financial results on Thursday 27 August 2026, providing the formal NZ IFRS view that sits alongside the quarterly sales metrics.

Progress across the Australian development pipeline continued, with Cranbourne North now open and operating, Chirnside Park due to open later this year, and Oakleigh South advancing through construction. The company reported 40 villages completed or in development nationwide in New Zealand, and has four villages in development in Victoria, Australia — Cranbourne North, Chirnside Park, Torquay and Oakleigh South — and provides living options and care services to more than 9,500 residents.

Summerset will release its half-year 2026 financial results on Thursday 27 August 2026.

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