Summerset Posts 1,560 Settlements, Up 26% Year-on-Year
Summerset Group Holdings delivered a robust FY25 performance, achieving a 26% increase in total settlements driven by strong new sales and strategic expansion in Australia.
- 1,560 total settlements in FY25, up 26% from FY24
- 680 new sales excluding care bed conversions, a 16% increase
- 637 new units delivered in New Zealand and 56 in Australia
- Strong Q4 sales momentum led by key metro villages
- Expansion progress with 50% presales at Chirnside Park, Australia
Strong Sales Momentum Drives FY25 Growth
Summerset Group Holdings Limited has reported a significant uplift in its sales of occupation rights for the financial year ending 31 December 2025. The company achieved a total of 1,560 settlements, marking a 26% increase over the previous year. This growth was underpinned by 680 new sales, excluding care bed conversions, which themselves rose 16% compared to FY24.
CEO Scott Scoullar highlighted the sustained sales momentum throughout the year, culminating in a record fourth quarter with 448 total sales, including 207 new sales and 241 resales. The strong performance reflects Summerset’s ongoing efforts to attract new residents and enhance the profitability of its care services.
Development and Delivery Milestones
During FY25, Summerset delivered 637 new units in New Zealand and 56 in Australia, aligning with its targeted development range. Key completions included large apartment blocks at St Johns and village centre buildings at Cambridge and Cranbourne North. The company’s Australian expansion continues with the Chirnside Park village, where presales for 28 homes have already reached 50%.
These development milestones support Summerset’s strategy to grow its footprint and diversify its portfolio across both countries. The company’s focus on metro villages such as Boulcott and St Johns has paid dividends, with these locations leading new sales in the quarter.
Portfolio Health and Market Position
Summerset’s resale market also showed strength, with the uncontracted portfolio shrinking to 2.7% from 3.0% at the end of FY24. This tightening of available stock suggests robust demand and effective inventory management. The company’s ability to convert care beds into occupation right agreements further supports its profitability goals and reflects a strategic shift in its care offerings.
Looking ahead, Summerset enters 2026 with a strong pipeline of committed sales contracts, positioning it well to maintain growth despite challenging market conditions. The upcoming FY25 Annual Report, due in late February, is expected to provide further insights into financial performance and strategic priorities.
Bottom Line?
Summerset’s strong sales and development progress set the stage for continued growth amid evolving market dynamics.
Questions in the middle?
- How will care bed conversions impact Summerset’s profitability in FY26?
- What is the outlook for Australian market expansion beyond Chirnside Park?
- How might changing demographics affect demand for different home types within Summerset’s portfolio?
