2Q19 Metrics – Sales of Occupation Rights

NZX & ASX RELEASE 8 JULY 2019 2Q19 METRICS - SALES OF OCCUPATION RIGHTS Summerset Group made 141 sales for the quarter ending 30 June 2019, comprising 65 new sales and 76 resales. Summerset CEO Julian Cook said total sales for the second quarter were stable, with slightly more sales than the first three months of 2019. Mr Cook said property market sentiment had stabilised and demand for Summerset's Auckland villages had been a feature of the quarter. "Auckland's Ellerslie and Hobsonville villages are our top selling villages so far this year," he said. Good volumes of new sales were also expected from three new villages opening shortly. "As with recent years, completion of new homes is weighted to the second half of 2019 and we expect sales to reflect that with higher volumes over the second half." Summerset will open three new villages this year in Avonhead (Christchurch), Richmond (Nelson/Tasman), and Kenepuru (Wellington). New sale stock levels remained flat over the first half of 2019, with sales levels in line with the volume of homes completed. Resales stock levels were consistent with historical levels and village occupancy in completed villages remains high. YTD19 SALES OF OCCUPATION RIGHTS See attached table FY18 SALES OF OCCUPATION RIGHTS See attached table ENDS For investor relations enquiries: Scott Scoullar Deputy CEO & CFO scott.scoullar@summerset.co.nz 029 894 7317 For media enquiries: Jenny Bridgen Communications Manager jenny.bridgen@summerset.co.nz 021 408 215 End CA:00337306 For:SUM Type:MKTUPDTE Time:2019-07-08 08:30:41