Village sales still ‘subdued’

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Eleven months after Fairfax/Four Corners, retirement villages are a two-speed market. Hands-on village operators are enjoying good sales but they are leaving no stone unturned and are aggressive in their marketing. Private and Not For Profits.

The public companies give the best insight. Aveo has left no stone unturned (understandably) and has caught up its 19 weeks of sales pain last July-December. By June 30 they will be down on target for Established village homes (they have to sell 1,200 a year) but up on new home sales.

Stockland has done OK but its result is behind – ‘subdued’ they call it. Lendlease – no clear answer but at Christmas they were 30% behind.

Across the three they missed over $40m in net DMF income July-December.

With the exception of WA, assuming no more negative media, sales should be back to normal by Christmas.

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