Fair value adjusted NAV at the last call was $1.42 (counts developments in progress at cost and all unsold units at fair market value) but that was more than 3 months ago and the market was firm in the last quarter of 2021. Probably getting close to $1.50 now with further work in progress on developments, further sales and accrued earnings since then.
I agree 100% that in the medium to long term its hard to see how you can go too far wrong from here. In the short term however when, (not if), Omrcon rips through New Zealand its quite possible (probable ?), sentiment could be so negative that we could see a (materially ?), more advantageous point at which to add to one's stake. Keeping some powder dry for that appears prudent to me.