06-07 Summerset - Market Update - FY25 Results and 1Q26
2026-06-07 Summerset
Sector evidence
Sector body
June 2026
Next review not yet scheduled
New Zealand
Medium confidence
published
SNZ editorial review
Evidence boundary: This record summarises the cited source. It does not establish local availability, individual eligibility, or professional advice.
Short Answer
Source: NZX 468297 'We've continued to achieve despite another year where the business environment and property market has been subdued.
Key Points
- •No material impact on sales or demand detected in Q1
- •Highest March ever for customer enquiry
Full Summary & Notes
Announced 27 Feb 2026. Source: NZX 468297 (opens in a new tab) > 'We've continued to achieve despite another year where the business environment and property market has been subdued. Summerset has lifted the value of the company by $1.32 per share to have an NTA per share of $13.75.' - IFRS profit drop due to lower median house prices impacting portfolio revaluations - Sales mix shifted toward apartments and care suites, reducing development margin - Care EBITDA significantly improved via ORA conversion of care beds Source: NZX 470509 (opens in a new tab), 7 Apr 2026 - No material impact on sales or demand detected in Q1 - Sales contracts up ~13% in last 4 weeks vs YTD average - Highest March ever for customer enquiry - Contract cancellations unchanged - Build rate guidance maintained: 650-700 NZ + 100-150 AU - Fuel/construction cost monitoring active; no material impact yet - Planning: EV fleet expansion, reduced air travel, scenario planning Source: Newsroom (opens in a new tab), 28 Apr 2026 - Opened 2026 at ~$12.30 - Hit 6-year low of $7.90 in late April 2026 - Currently: $8.06 (as of 5 Jun 2026) - 2026 decline: -35% from start of year - Summerset has underperformed the sector in recent months - Forward interest rate pricing + oil price shock driving caution - Summerset is one of NZ's biggest builders (600+ units/yr), sensi
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