ASB / Main Report Regional Economic Scoreboard

Monday, 25 November 2013, 9:43 am
Press Release: ASB Bank

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ASB / Main Report Regional Economic Scoreboard

September 2013 Quarter

Auckland has stormed back to the top of the rankings of the latest Regional Economic Scoreboard, climbing back up from third place in the previous quarter.

Activity within the Auckland region continues to be boosted by strong population growth and rising house prices. Construction activity is also picking up, but will have to accelerate much further if the region’s shortage of housing is to be resolved.

Other areas that continue to perform well near the top of the rankings include Canterbury and several of the regions around the top of the South Island. Tasman, Nelson and Marlborough all benefited from inflows of relocated Cantabrians in 2011 and are still reaping the rewards through higher consumer spending and housing market activity.

Activity in Canterbury also continues to surge as the rebuild effort attracts workers to the region. As expected, construction activity continues to expand rapidly. And the housing market remains supply-constrained, which is pushing up house prices.

The ASB / Main Report Regional Economic Scoreboard takes the latest quarterly regional statistics and ranks the economic performance of New Zealand’s 16 regional economic areas. The full report is attached and available online.

Regional_Economic_Scoreboard_Q3_2013.pdf

ENDS

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