Summerset at Wigram. Photo: SuppliedThe strong housing market has lifted the profits of retirement village operator Summerset. Summerset operates villages across New Zealand and in Canterbury, with facilities at Avonhead, Casebrook, Wigram, Rangiora and Prebbleton. The company posted a net profit of $230.8 million in the year to December, up a third on the year before, as the value of its property portfolio increased by $221.1m. Summerset owns two sites in Australia and expects to open its first village towards the end of the year.

Source: Otago Daily Times February 22, 2021 22:41 UTC