Scoop has an Ethical Paywall
License needed for work use Register

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

 

Hamilton continues to better national economic averages

Sustained activity in the residential construction sector has seen Hamilton again out-perform the New Zealand average in key indicators, according to the latest Infometrics Quarterly Economic Monitor.

The results point to a continuing trend of investment in the city, underpinned by Hamilton’s geographic and economic advantages, says Jen Baird, Hamilton City Council City Growth General Manager.

“While there’s indications of a softening national economy, growth in Hamilton has continued at pace. People want to live, play, work and do business here. Our proximity to other key centres and relative housing affordability make Hamilton an attractive place for families, investors and businesses.

“We’re continuing to support growth in the south of the city, partnering with the Government to deliver strategic infrastructure for the new neighbourhood of Peacocke. In the next few years we’ll be building the roads, cycleways, water services and a new bridge over the Waikato River to enable homes for around 20,000 future Hamiltonians.”

The Infometrics report shows a total of 503 new residential building consents were issued in Hamilton in the September 2019 quarter, compared with 421 in the same quarter last year. On an annual basis the number of consents in Hamilton increased by 30.4% compared with the same 12-month period a year ago, substantially ahead of the New Zealand average of 12% over the same period.

The number of consents for the quarter is double the city’s 10-year average of 252, and the city’s wider construction sector was further boosted by non-residential consents valued at $260M in the year to September 2019.

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

House sales in Hamilton were also very strong in the year to September 2019, with a total of 3219 houses sold, an increase of 3.1% compared with the previous year and well ahead of the national average, where sales decreased by 0.7%.

The activity supported continued growth in the city’s Gross Domestic Product (GDP), which for more than two years has increased higher than the national average and stands at a provisional $8.288B.


© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On How Climate Change Threatens Cricket‘s Future

Well that didn’t last long, did it? Mere days after taking on what he called the “awesome responsibility” of being Prime Minister, Christopher Luxon has started blaming everyone else and complaining that he's inherited “economic vandalism on an unprecedented scale” - which is how most of us would describe his own coalition agreements, 100-Day Plan, and backdated $3 billion handout to landlords... More


 
 
Public Housing Futures: Christmas Comes Early For Landlords

New CTU analysis of the National & ACT coalition agreement has shown the cost of returning interest deductibility to landlords is an extra $900M on top of National’s original proposal. This is because it is going to be implemented earlier and faster, including retrospective rebates from April 2023. More


Green Party: Petition To Save Oil & Gas Ban

“The new Government’s plan to expand oil and gas exploration is as dangerous as it is unscientific. Whatever you think about the new government, there is simply no mandate to trash the climate. We need to come together to stop them,” says James Shaw. More

PSA: MFAT Must Reverse Decision To Remove Te Reo

MFAT's decision to remove te reo from correspondence before new Ministers are sworn in risks undermining the important progress the public sector has made in honouring te Tiriti. "We are very disappointed in what is a backward decision - it simply seems to be a Ministry bowing to the racist rhetoric we heard on the election campaign trail," says Marcia Puru. More

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.