Ingenia advances eight land lease projects with 3,500 approved sites

The ASX-listed land lease operator has blamed a fall in its first-half FY26 earnings on softer settlements and increased interest costs.

Despite a 4% fall in settlements, Ingenia Communities, in announcing its 1H26 financial report today (Tuesday 24 February), said it was on track to deliver full-year earnings at the top of its guidance range.

Ingenia recorded 248 settlements in the six months to December, compared to Stockland Halcyon’s 254 and Serenitas’ 253 land lease home settlements.

The operator said the decline from 258 settlements in 1H25 was one of a number of reasons, including higher interest costs, that first half earnings before interest and tax slipped to $85 million from $86.2 million.

“Changes to the Group’s operating model have simplified the business, delivering improved productivity and operating efficiencies and we remain well positioned to accelerate development in the second half,” Ingenia CEO and Managing Director John Carfi said.

“We are also beginning to put projects into production that will benefit from our design refinements and procurement changes, supporting stronger future financial outcomes.

“We delivered 248 home settlements in 1H26, in line with expectations, as we revert to a more traditional second half skew. Resilient demand continues to support both price and gross margin.

“Our focus remains on delivering targeted development returns and growing settlements as new projects progress. We have 13 active projects in market and eight new projects commencing this financial year.”

Three of the new Ingenia Lifestyle land lease communities have already launched: Sunbury, the extension of Plantations, on the NSW Mid North Coast, and Gordonvale.

Ingenia is currently selling across 13 projects with prices ranging from $475,000 to over $1 million, with a development pipeline of 4,946 sites.