GemLife strengthens build margins as FY25 sales accelerate

The Queensland-based land lease community operator, which floated on the ASX in July last year, has released its FY25 full year results.

For the second successive year, the number of homes settled fell. In FY23, GemLife settled 361 homes, followed by 355 in FY24 and 312 in FY25.

However, the average home margin (development profit) was $418,000, a 24% increase on the previous 12 months, and the average home sale price increased 18% to $833,000 in FY25.

As of 31 December 2025, GemLife had 208 homes under contract, with 38 more homes with expressions of interest. All 246 homes are expected to settle in FY26.

GemLife says it has 4,071 sites under development and approved, with a pipeline including 2,546 greenfield sites and 1,698 sites to be acquired.

“GemLife delivered a strong FY25 result, exceeding Prospectus forecasts across key financial metrics. The performance was underpinned by our focus on optimising product mix within each development to support the sales prices and build margins achieved,” Managing Director and CEO Adrian Puljich said.

“Following the IPO, the Group has a strengthened capital base and a portfolio and pipeline of 10,413 homes, providing clear visibility over future development activity in a sector supported by favourable demographic trends.”