Lifestyle Communities net sales fall 22% in September quarter
- Lifestyle Communities reported 39 new home sales for the September quarter, representing a 22% drop from the prior year.
- The company noted sales activity moderated due to prospective customers taking longer to progress downsizing decisions in Victoria.
- Management continues to focus on balance sheet deleveraging, disciplined inventory management, and operational improvements.
Lifestyle Communities (ASX:LIC) reported a 22% decline in new home sales for the quarter ended Sept. 30 as Victorian property market activity slowed.
The group recorded 39 new home net sales in the first quarter of FY27, compared with 50 net sales in the prior corresponding period.
The company stated that prospective customers took longer to progress their downsizing decisions in a more measured Victorian housing market during the quarter.
Established home sales also decreased by 11.9% year-on-year, moving from 42 sales in the first quarter of FY26 down to 37 sales in the first quarter of FY27.
While conversion rates remained broadly stable during the quarter, the business reported that appointment volumes showed improvement in September.
Following the announcement, the Lifestyle Communities share price was unchanged at $4.24.
To manage market conditions, the group maintained a focus on strategic priorities, including balance sheet deleveraging and disciplined inventory management.
