Hastings district retail spending remains strong
Retail spending in the Hastings district has again outstripped the national spending growth rate compared to the same time last year, confirming the local economy remains buoyant.
The latest Marketview report on the retail spending figures for the three months to the end of March 2019 showed spending across Hastings increased by 5.8 per cent over the same time last year, compared to a national spending growth rate of 3.4 per cent.
The total spend for the three months was $72 million, with 70 per cent of that coming from locals, 10 per cent from Napier residents, six per cent from Central Hawke’s Bay and one per cent international.
The sharpest increase in spending occurred at St Aubyn Street South (13 per cent) followed by the rest of the Hastings district (10.1 per cent) and the Hastings CBD (6.1 per cent).
Spending in the Hastings district by locals increased by 9.1 per cent on the same quarter last year, and international spending increased by 7.2 per cent.
In Havelock North, retail spending growth was also up on the same time last year at 5.6 per cent – 68 per cent of that being local spending growth.
Spending by visitors from Napier was down by 13.6 per cent but international spending was up 5.5 per cent making up 3.6 per cent of the total (compared to 0.9 per cent in the Hastings district overall).
Hastings District Council’s economic development and urban affairs portfolio leader Damon Harvey said Hastings continued to perform well in retail spending, based on having a strong economy and a buoyant residential housing market.
“Our revitalisation plan for Hastings is underway, by early next year we will see the opening of the Opera House and Plaza and we have a hotel about to get underway, so it all bodes well for confidence in our CBD and other retail precincts.”