Nelson soars on economic scoreboard

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Statistics from the NZ Regional Economic Scoreboard shows Nelson soaring to the top.

The economic scoreboard takes the latest quarterly regional statistics and ranks the economic performance of New Zealand’s 16 regional council areas.

Ratings are updated every three months and are measured by population, employment, construction, retail trade, house prices and new car sales.

ASB Chief Economist Nick Tuffley says Nelson has proven itself to be the biggest mover on the Scoreboard this quarter jumping up to fourth place thanks, largely, to the housing market.

“Up six spots, Nelson’s housing market is back in favour as the region records double-digit annual house price growth, one of only six regions to do so,” says Nick.

“However, outside the housing market, Nelson is a mixed bag. While the region continues to ride the nationwide tourism wave, strangely, retail sales are down on this time a year ago.”

In contrast to Nelson, Tasman has taken a dive down the rankings this quarter which Nick attributes to weak housing market activity.

“Tasman is the only region to record a lower number of sales this quarter compared to a year ago.

However this is believed to be temporary.