Mayank Bansal, CFA
Mayank Bansal is a CFA Charterholder and heads the Equity Research team at Kapitales Research, with over 5 years of experience analysing global equity markets. He leads fundamental, data-driven research combining rigorous financial analysis with macro trends.
Ryman Healthcare Posts Best Resale Quarter in Two Years as Care Occupancy Rises
Highlights:
Second-Quarter Sales Pick Up
Ryman Healthcare Limited (ASX: RYM) issued its trading update for the second quarter of FY2027 on 12 October 2026, pointing to firmer resale activity and steady demand across both retirement living and aged care. In the three months to 30 September 2026, the group completed 379 occupation right agreement (ORA) sales, of which 312 were resales and 67 were new sales.
Resales were up 14% on the same quarter a year earlier, the highest quarterly total in two years. Serviced apartments were a key driver, as more residents sought assisted living. Net resale contracts, a forward indicator of sales, were 11% higher year-on-year, building on the 7% rise in the first quarter. Contracting improved for both independent and serviced units, with Auckland and Victoria among the regions that contributed.
Stock of Unsold New Units Falls Further
Unsold new retirement living stock fell by 67 units over the quarter to 347. That takes the reduction since 31 March 2026 to 132 units, helped by completed sales and by the company’s decision not to deliver new stock in the first half of FY2027.
In October 2026, Ryman opened the main building at its Richard Hadlee Village in Christchurch. The building adds 77 retirement living units and 65 aged care beds, a mix that includes care suites and premium care apartments. With those 142 units and beds delivered, the company says it is on course to meet its FY2027 build guidance of 157–168 retirement living units and aged care beds.
Care Occupancy Moves Higher
Aged care occupancy across the group was 94.0% for the quarter, 3.3 percentage points above the level a year ago. Newer care centres filling up accounted for much of the gain. Kevin Hickman Village in Christchurch, for example, became fully occupied 15 months after it opened.
Ryman’s five mature care centres in Victoria lifted occupancy to 97.9%, up from 96.1%. Across all mature centres, however, the figure slipped to 95.4% from 95.7%, which the company partly attributed to a harsher winter illness season at some New Zealand villages. Since 1 September 2026, Ryman has also widened its Resident Fund offering in New Zealand, so residents can draw on the capital from their former retirement living unit to pay care accommodation charges and base care fees.
Management Commentary and Outlook
Chief Executive Officer Naomi James said the housing market remained soft, but demand for retirement living, assisted living and aged care held up in both New Zealand and Australia. Ryman aims to bring resales into line with turnover by the end of FY2027. To get there, it is using targeted sales initiatives and a wider range of pricing and product choices, intended to make its villages more affordable while supporting recurring earnings.
RYM Share Price
According to the market data provided, Ryman Healthcare shares were quoted at AU$1.410, a gain of AU$0.059 or 4.44%. Resale volumes, occupancy trends and further reductions in inventory are likely to be the measures investors watch for signs of how the business is performing.
Note- All data presented is based on information available at the time of writing.
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