While the West Coast earned five-star rating, Wellington rates only three stars and Auckland miserly two in the most recent ASB Main Report Regional Economic Scoreboard.
The ratings which are based on employment figures, wages, house and retail sales, construction activity and car registrations suggest Auckland is sinking into stagnation though it’s gaining new residents at faster rate (2.4 percent) than any other region and can boast (or possibly lament) the most highly priced housing. Dragging its rating down in the past quarter were poor growth rates for house construction, retail activity and tourism.
Although no one factor contributes to the West Coast’s high ranking, growth rates for retail sales, house sales and guest nights are all above the national average and construction is positively blooming. Other high scores (each with four stars) were Gisborne and Marlborough where guest nights and house sales helped lift overall performance.
Notable for negative growth across all regions are the figures for new car sales which have dropped up to 29 percent.
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