That didn’t last long . . .
Northland’s reign at the top of the ASB Regional Economic Scoreboard was short-lived.
The region plummeted from top spot three months ago to ninth (of 16 regions) in the June quarter, a rate of descent only exceeded by Marlborough, which plunged from fourth equal to 16th. Northland also shed two of its five stars, retaining three.
The quarter saw Northland’s retail spending (up 3 per cent), average house price (up 4 per cent) and new car sales (down 9 per cent) all lag behind the national averages. The good news was that employment (up 7 per cent) remained firm, prompting the report to “maintain a glass half full perspective”, and to suggest that the fall might prove to be a temporary blip in Northland’s economic fortunes.
The value of construction in the region over the quarter, $183 million, was up 23 per cent, compared to the national improvement of 15 per cent.
Meanwhile, a nett 22 per cent of Northland households expect the region’s economy to strengthen over the coming year, according to the WestpacMcDermott Miller Regional Economic Confidence survey for the September quarter.
That was down from 32 per cent in the June quarter, and followed four consecutive quarters where confidence had risen.
“A slowing housing market, evidenced by weaker sales volumes and sharply lower house price growth, coupled with higher fuel prices are likely to have dampened how households view the region’s prospects,” Westpac chief economist Dominick Stephens said.
“That said, confidence in the region remains relatively high, reflecting a still positive outlook for the agricultural, horticultural and forestry sectors, as well as ongoing investment and spending by government.”
The survey also examines consumers’ views on their own economic situation, producing an index that summarises responses to questions including how respondents view their own financial situation, their current willingness to buy a major household item and the outlook for the national economy. The index for Northland fell sharply to 105 in the September quarter, down from 110 in June.
“Northlanders are feeling a little less confident than they have been about the New Zealand economy, and are less optimistic about their own financial circumstances over the next 12 months.” Police in Kaitaia are appealing for public assistance in locating three people for whom warrants to arrest have been issued in the Kaitaia District Court after they failed to appear.
They are Nicholas Dale (28), Troy Posinkovich (33) and Marama Pickering (27).
Anyone who has any information regarding their whereabouts is asked to contact Senior Sergeant Russell Richards at the Kaitaia police station, phone (09) 408-6511.