More Hutt-ites than ever before
Tori Buttle knows how difficult it was for Lower Hutt firms after the November 2016 Kaiko¯ura earthquake.
Commonsense Organics was hit hard by the big shake, with turnover down by as much as 25 per cent.
It’s situated opposite the section of the Queensgate mall that was demolished and next to New World supermarket, which was temporarily forced to close, so customers stayed away in their droves.
As the store manager, Buttle had to tighten her belt and look for ways to reduce her costs. The business is now undergoing a much needed increase in turnover and boosting her staff numbers is a possibility.
Her experience reflects the latest retail figures released by the city council, which show the local economy is performing strongly.
The figures, based on card transactions, show retail spending in Lower Hutt during the December 2017 quarter jumped 14.4 per cent compared to the 2016 quarter. That was better than Wellington City at 4.9 per cent and Porirua with just 3.6 per cent, for the same period.
Lower Hutt’s CBD retailers experienced a 13.9 per cent revenue growth for the period, pulling in $529 million for the calendar year. The income of Petone retailers jumped 17.4 per cent, with a total annual revenue of $375m.
The total retail spend in Lower Hutt for the year was $1.21 billion.
From talking to new customers, Buttle said it was clear where the growth was coming from. Lower Hutt was attracting young people because it was one of the few areas that still had affordable housing.
That’s music to the ears of Hutt City Mayor Ray Wallace, who said the growth in retailing was just one of a number of positive
In the last financial year, an extra 126 businesses opened in Lower Hutt, bringing the total to 10,158. That number has steadily risen from 9627 in 2013, when Hutt City Council first introduced economic development incentives, he said.
Lower Hutt’s gross domestic product (GDP) rose 1.4 per cent to $4.77b in the last financial year. This follows a decade of average annual growth of only 0.1 per cent. indicators.
After ‘‘several decades’’ of little or no population growth, Wallace said he was pleased to finally see more people calling Lower Hutt home.
Although its GDP has grown by only 1.4 and 1.3 per cent for each of the last two financial years, that is significant given that between 2006 and 2013 censuses, the city’s population rose by only 0.55 per cent.
The city’s current population is estimated at 104,700, compared to 101,000 in 2013. Wallace said that growth in population had resulted in a marked rise in house building.
The value of building work for the 2017 calendar year was $264m, up 21 per cent on the previous year. Last year, there was a 10 per cent rise in building consents, and 2018 is looking to be a busy year with a number of significant projects in the pipeline, Wallace said.
Stuff recently reported that the city is enjoying its biggest growth in housing in decades.
Mayor Ray Wallace said he was pleased to finally see more people calling Lower Hutt home.