Auckland gains top economic performance ranking

 June 29, 2010

Auckland again has recorded the best economic performance in New Zealand. The ASB New Zealand Regional Economic Scoreboard takes quarterly regional statistics in order to rank the economic performance of New Zealand’s 16 regional council areas. The fastest growing regions gain the highest rankings.

The study, which awarded the region three stars out of a possible five, found Auckland to be the country’s “most confident region” with house price gains and retail sales growth results among the highest in the country and car registrations and residential construction activity continuing to recover. Employment was also found to be up on year-ago levels.

Non-residential construction, while showing improvement was not up to levels seen in the rest of the country. Guest nights too showed slower growth than in other regions but were improving.

“As the economic hub and international gateway for New Zealand, Auckland’s performance is of critical importance to the country,” says AucklandPlus Group Manager, Clyde Rogers.

“As such, it’s hugely positive to see Auckland leading the country in terms of overall economic performance and recovery.

“With many parts of Europe and the United States still experiencing challenges, many international investors will be looking to cities such as Auckland as an alternative investment destination.

“Auckland’s sustained economic performance coupled with the international exposure generated by major events such as Rugby World Cup 2011 and the upcoming Volvo Ocean Series will ensure Auckland remains on the radar of international investors.”