Press Release – ASB Bank
Auckland has retained its top spot in the latest ASB/Main Report Regional Economic Scoreboard, as relatively strong population growth in the region drive retail spending and housing market activity.
The top of the South Island continues to fare reasonably well, reflecting the lingering effects of the movement of quake-affected Cantabrians to these regions.
In particular, Tasman has edged up to second place on a rebound in consumer confidence, which appears to be underpinning strong retail spending growth.
Encouragingly, there are signs post-earthquake rebuilding is underway, and this is underpinning Canterbury’s ascent up the rankings. Construction activity in the region is particularly strong, and continued supply constraints in its housing market are driving relatively strong house price appreciation.
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 and available online.