Stats and Insights - March 2019

Find up to date information about Kāpiti's economy, reports on areas such as tourism and retail sales, and relevant data.

Business Growth laptops

How we are tracking - March 2019

Kāpiti's economy is tracking well across most indicators, however weak building consents present a weaker outlook for the construction sector. The Kāpiti Coast economy grew by 1.7% in the year to March 2019, compared to 2.5% nationally, based on Infometrics' provisional estimates.

Health enrolments in Kāpiti, a proxy for population, grew by 1.0% in the year to March 2019, having slowed over the last year. This modest population growth, in conjunction with a modest increase in household confidence, underpin a 4.2% increase in consumer spending.

4.2% increase in consumer spending

Infometrics

Houses with dunes and beach
Playground area + sports fields
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House sales in the district reached 1,149 over the year to March 2019, a touch above the 10-year average of 1,114. House prices in the district grew by 6.8%, with growth rates closely following the broader Wellington Region while average house values sit around $120,000 below the regional average.

Demand for the district’s houses isn’t translating into construction, with new dwelling consents down 14.3% year on year, and sitting below the 10-year average. Likewise, non-residential consents are weak, with consent values down 45.2% year on year, and below the 10-year average.

It will take some time for the impact of this to flow through to the construction sector, particular non-residential, due to the lag between consent issuance and project completion.

However, going forward, it’s increasingly likely that Kāpiti contractors will have to travel outside the district for work, adding to traffic on key highway corridors.

Traffic volumes on state highways in Kāpiti grew by 1.2% in the year to March 2019, meanwhile traffic across the Wellington Region grew by 2.7%.

Unemployment eased to 3.8% in the year to March 2019, a 10-year low for the district, and below the national average of 4.2%.

Jobseeker support recipients have grown 4.5% to 1,456 over the past year, beneath the national growth rate of 7.6%. The number of recipients is broadly in line with the 9-year average for the district of 1,450. Coupled with record low unemployment, this suggests a small group of community is struggling to gain traction in the employment market.

Unemployment eased to 3.8% in the year to March 2019, a 10-year low for the district, and below the national average of 4.2%.

Key economic indicators