Ingenia Poised for Home Settlement Rebound in 2024

Australian property group Ingenia Communities (ASX: INA) is anticipated to experience a rebound in the number of home settlements in 2024, following two years of moderated growth and decline. According to Visible Alpha consensus, Ingenia’s total home settlements are projected to increase by +20% year over year in 2024. This follows a -9% decline in 2023 and +8% growth in 2022.

With an estimated 448 home settlements contributing, Ingenia’s revenue from lifestyle and holiday segments is forecasted to grow by +23% in 2024, totaling A$424 million. Overall, total revenue is expected to increase by +19% year over year in 2024, reaching A$469 million, partially offset by declines in revenues from Ingenia Gardens and Fuel, Food & Beverage Services.