This may help to explain the whys.
https://www.nzx.com/announcements/403202
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This may help to explain the whys.
https://www.nzx.com/announcements/403202
summerset putting on hold there building of retirement village in parnell
say rising building costs and falling property market make the project not viable
https://www.nzherald.co.nz/business/...I6JBCEPNZUZDI/
major event next year add's big risk to sector
Review of Retirement Villages Act begins in 2023
At a high level, the review is set to consider whether the current Act and all its parts remain fit for purpose
https://www.hud.govt.nz/news/review-...egins-in-2023/
Well, given the time of the year is it even more funny you see everything just with black tinted glasses. Hey, wake up - its the time of joy and friendly colours!
I see huge opportunities for the retirement villages with clarification of the rules and responsibilities for residents as well as operators. I expect rules and regulations to become more standardized, which is good for the residents and for the operators. Less public outcries over alleged "unfairness".
Banking industry is heavily regulated and actually earns a fair income, don't they? So will retirement village operators. Nothing to worry for the good operators, and government might be able to cull any cowboys which damage the reputation of an essential industry.
Government needs retirement villages - so I am sure the review will be balanced and fair.
Merry Christmas :) ;
Yeah, not going to panic until the results of this review are set in stone. Dont anticipate major changes, and if there are any changes there will always be a work around under a different model. After all its not like we are making money hand over fist. Also they need to encourage investment in this sector.
Merfy Christmas
https://www.nzx.com/announcements/405120
277 and first time over 1000 ...W69 shud be happy .
SUM proving again its best of the lot
Great sales update from Summerset
This is the highest Q4 resale settlements we’ve ever seen and the second highest Q4 new sales,” says Mr Scoullar
http://nzx-prod-s7fsd7f98s.s3-websit...120/386777.pdf
Good news is bad news in the sector right now if ARV's share movement post record results is anything to go by... share price should be down several percent in the next few weeks.
I agree it is a great sales update, shame great news doesn't seem to mean much for sum other listed companies
As long the selling is doing well that will keep cash flows going thus they can easily pass over this lull period of property cycle ...so it does matter if the companies are doing well sales wise or not for their future .
SUM doing even better then ever will mean they will have much lesser problem dealing with this phase unlike some others who will have trouble servicing their cash outgo requirements