HB + NZ Economic Indicators Q3-21

Registered ValuersRegistered Property ConsultantsLINZ Accredited.  Hawke’s Bay-based premium quality valuation and creative property strategy©.  Leading +$0.5b acquisitions-disposals NZ-wide for 23 years.  Valuation litigation and commercial property specialists.  Development and public land specialists. Property economy analysts and commentators – for Press.

 

Turley & Co HB + NZ Economic Indicators Q3-21

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Hawke’s Bay’s economy continues to perform strongly – refer to our Indicators page, for 39 key measures tracked by Team Turley & Co.

Hawke’s Bay new building consents for all categories are up 55% and for residential alone 69% over 24 months.  The median house price has increased a massive 53% in 21 months.  Unemployment is down 37% from its pre-COVID level to 2.60%.  Notwithstanding COVID, annual retail spending to September 2021 increased 18% on the 12 months to June 2019.  Napier Port bulk cargo exports up 17% compared to the 12 months to September 2019.

The NZ numbers include a quarterly GDP spike for the June 2021 quarter compared to the December 2019 quarter, Government spending up 11%, and Government debt increased 77% to $102b.

See our latest commercial-industrial property market reports, including Hawke’s Bay and NZ cap rates and our retail occupancy survey for Hawke’s Bay.

Refer to our Indicators page for prior periods economic metrics.

 

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