Update on current Ryman site developments.
The current (Sept 2014) site-development design/engineering/construction work being undertaking by RYM is:
Attachment 6283
Source: http://www.rymanhealthcare.co.nz/ima...14_Spreads.pdf
The above is just FYI, but while on the subject, RYM's 2008 build-rate increased by over 200% compared to 2007; the biggest percentage increase this century in RYM's construction volume.
This year's Median NZ House price is up 22% from 2007
This year's Median NZ House price is up 25% from 2008
Average length of occupancy is about 7 years but bear in mind that in terms of resales 7 years down the track (ie about now), the timing of each unit's final completion and occupation together with the variability of life expectancy, this 200% increase in gets considerably ironed out.
Concerning the 3500 retirement village units and care beds occupied in or before 2007 these will be coming up for resale now. This years median NZ house price is:
42% more than in 2006
52% more than in 2005
77% more than in 2004
112% more than it was in 2003
With demand for retirement village living well outstripping supply I expect resale volumes to begin ramping up considerably between now and the next 3 years with a realised increase in the value of each unit averaging, well, …. a lot.