More impressive results for the Bay
It just keeps getting better for the Bay says Todd Muller, MP for the Bay of Plenty, after the recent Regional Trends summary from ANZ was released.
“The quarterly analysis shows that the Bay of Plenty region is now dominating the country across most metrics,” says Mr Muller.
“Annual growth in our region has soared to 6.8 per cent, the highest in 12 years for the Bay and the strongest nationwide. It is also important that the Bay’s annual average growth is strong at 5.7 per cent, above the nationwide average by 2.9 per cent which is a stunning result.
These are extraordinary numbers and the ANZ report reinforces that this growth is underpinned by our horticultural sector and housing market. Kiwifruit exports have grown year on year by 46% a remarkable result when you reflect how different the industry outlook was a few years ago.
Our housing market is doing extremely well with house sales up 32.7 per cent annually, house prices up 18.4 per cent annually and dwelling approvals up a whopping 39.5 per cent annually, which is needed to ensure we house those moving to Tauranga.
“Employment has been an important issue for our region, with locals raising the issue at my recent public meetings. So its hugely satisfying that our local labour market has added a further 2,400 jobs and 4500 jobs listed on Trade Me over last 3 months up 24% year on year.
“This is matched by the lowest unemployment rate in the North Island at a 7 year low of 4.7%
“Guest nights are also up 10.4 per cent annually showing that not only are we excelling in economic growth and employment but also in our tourism industry.
“Ultimately we all are a part of this success. This is a region that is booming, but we need to keep totally focused to ensure we provide the infrastructure and conditions for this success to be sustained. I am confident that our Innovation Budget announced last week will keep driving our local economic engine.
Media contact: Shannon Stewart (04) 817 9431