Ageing population rejuvenates market for retirement villages
Monday 9 August 2004
Longer lifespans are reaping rewards for Vision Senior Living, reports Lesley Springall.
By The LandlordRetirement village operator Vision Senior Living (VSL) is planning new villages in the South Island and Auckland's North Shore to keep up with demand from New Zealand's ageing population.
But plans to list, like its larger rivals Metlifecare and Ryman Healthcare, are at least two years away, said the firm's founding director Peter Bourke.
The company's group results for the year to March, released last week, revealed total assets jumped to $59.7 million from $41.3m, while total equity shot up to $16.5m from $3.5m.
Though not yet finished, the firm's two Auckland villages, Waitakere Gardens and Dannemora Gardens, and Hamilton's Forest Lake Gardens, attracted 117 new unit buyers, taking total unit sales to date to 271.
Read More - Opens in a new window
Commenting is closed
There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.