Ingenia announces second manufactured home park purchase in a week plus valuation drops for traditional DMF villages

On Monday Ingenia purchased The Grange Village at Morisset with 145 homes plus 30-40 development sites for $10M, and on Wednesday they purchased nearby Ettalong Holiday Village with 85 existing units and space for 28 more. Purchase price $2.1M. At the same time Ingenia’s Tony Massaro finalised the acquisition of a third village form Mike Bozell’s rental village group, this one in Tamworth.
As part of their Half Year results Ingenia revealed it had conducted external valuations of 18 of its villages. Its rental villages were devalued by 1.3% and their DMF villages, which are located mainly in QLD and WA, had valuations reduced by 5.4%. Are valuers in touch with increasing sales?