Aveo existing village sales down 50%

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There is no escaping the impact on Aveo of the Fairfax/Four Corners/ABC media spotlight.

For the Half Year July to December 2017 they sold 209 ‘pre-loved’ village units. This compares to 422 sales in the same six months in 2016 – a drop of 50%.

The portfolio sales rate equates to 7.5%, down from 10.3% the previous year, meaning they now have around 200 extra homes to sell than normally.

Given their average DMF/Capital Gain income from each rollover averaged $71,000, their income dropped by $15M over the six months to what they may have planned.

The pressure will be on to push sales. They forecast they will sell 500 pre-loved homes across this six months, which is well beyond normal seasonal upswing in sales in the second half.

Across their portfolio they have 91 properties.