Nelson shoots up on economic scoreboard

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Nelson has been given “four stars” and ranked only behind Otago as the best performing region in the country by the latest ASB/Main Report Regional Economic Scoreboard.

Nelson shot up two places into second, with Tasman in sixth.

The report said “what’s not to like?” about Nelson.

“Booming tourism is keeping the region’s retailers busy. Nelson is one of the region’s benefitting from the twin horticulture and viticulture booms. House prices are similarly buoyant, although we note that sales growth is showing signs of slowing. All up and as we hinted at last quarter, the region is well-deserving of its extra star.”

On Tasman, the report says the region jumped five places in the rankings.

“Like its neighbour, Nelson, tourists are keeping Tasman’s retailers busy. Similarly, the wine and fruit boom is boosting incomes in the region. However, the difference between the two regions is housing, where Tasman’s housing market is softer both in terms of sales and price growth.”

Otago was ranked as the best performing region as it “continues to outperform in construction and cashes in on booming tourism”.