Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search


City’s economy solid


23 March 2018

City’s economy solid

Lower Hutt’s retail sector has shrugged off the after-effects of the 2016 Kaikoura earthquake and the city’s wider economy is firing on all cylinders, according to recent data.

The most recently available figures, based on card transactions, show retail spending in Lower Hutt during the December 2017 quarter jumped 14.4 per cent compared to the same 2016 quarter. This compares with 4.9 per cent growth in Wellington City and 3.6 per cent in Porirua for the same period.

Lower Hutt CBD retailers experienced 13.9 per cent revenue growth for the period pulling in $529 million for the calendar year. Petone retailers’ income was boosted 17.4 per cent with a total annual revenue of $375 million. The total retail spend in Lower Hutt for the year was $1.21 billion.

Lower Hutt Mayor Ray Wallace says retail is just one of several sets of indicators that show the city’s economy has firmed in recent years.

“So it’s encouraging to see a resilient and hard-working city in action and Council’s vision of the rejuvenation of our city being realised, but there’s still much to be done.”

Last financial year, an additional 126 businesses opened their doors in Lower Hutt bringing the total to 10,158. This number has steadily risen from 9627 in 2013, when Council first introduced economic development incentives.

Lower Hutt’s gross domestic product rose 1.4 per cent to $4.77 billion last financial year. This follows a decade of average annual growth of only 0.1 per cent in the wake of the global financial crisis.

After several decades of relatively flat population growth, Lower Hutt’s population in recent years has started to rise – an estimated 1.4 and 1.3 per cent for each of the last two financial years. This brings the number of residents to an estimated 104,700, compared to 101,000 in 2013. This may not seem like a dramatic movement but between the 2006 and 2013 censuses, the city’s population rose by only 0.55 per cent.

To house this growing population, the number of completed residential builds climbed from 232 in the 2016 financial year to 325 in 2017.

The value of building work for the 2017 calendar year was $264 million, up 21 per cent on the previous year. 2017 also saw a 10 per cent increase in building consents, and 2018 is looking to be a busy year with a number of significant projects in the pipeline.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Why France Could Become Our Closest Ally In Europe

As PM Jacinda Ardern returns from a triumphant tour to Britain and the capitals of Europe, her officials have probably begun to assess what the more substantive gains from the trip might have been. Most of the chatter has been about potential trade deals – so lets just assume for the moment that bilateral trade deals between big and small countries are a good thing, despite the perils they pose to the smaller party. Currently, Britain is so involved with its Brexit nightmare that there seems little prospect of any substantive early progress on an FTA with Britain. In any case, New Zealand should be wary of being the first cab off that particular rank. ... More>>


HiveMind: Fair Enough? How Should New Zealanders Be Taxed?

Have Your Say - Scoop and PEP invite you to share your issues, ideas and perspectives on the NZ tax system with other New Zealanders using Scoop’s HiveMind tool. This Tax HiveMind is intended to complement and feed into the review being run by the Government-appointed Tax Working Group (TWG), which is looking at the fairness, balance and structure of the tax system with a 10-year time horizon. More>>


Gordon Campbell: On Thompson + Clark & Russia’s World Cup

Daily, the coalition government keeps running into examples of the toxic legacy left behind by National – and just as regularly, even the simple fixes are proving stubbornly difficult to enact. Take the case of the security firm Thompson + Clark ... More>>


Gordon Campbell: On The GCSB’s Security Hang-Up With Russia

So our GCSB has chimed in, alongside its British, Australian and US allies, with warnings about a “fresh wave” of Russian cyber attacks, although the warning has been curiously framed. More>>


PM's Europe Trip: CHOGM & Bilateral Meetings

Prime Minister Jacinda Ardern is in Europe for the Commonwealth Heads of Government Meeting (CHOGM) in London and meetings with counterparts in Paris and Berlin. More>>


Addressing Climate Change: No New Offshore Exploration Permits

The Coalition Government is taking an important step to address climate change and create a clean, green and sustainable future for New Zealand, Prime Minister Jacinda Ardern announced today. More>>


Road Safety Summit: Actions To Improve Identified

The Local Government Road Safety Summit held last week identified actions that will lead to lasting changes to road safety in New Zealand, says Associate Transport Minister Julie Anne Genter. More>>





Featured InfoPages