Stats and Insights
Find up to date information about Kāpiti's economy, reports on areas such as tourism and retail sales, and relevant data.
How we are tracking - September 2020
The Kāpiti Coast economy has been recovering well, with GDP in the September 2020 quarter up by 0.9% compared to September last year, according to Infometrics provisional estimates. On an annual basis, GDP is down by 1.8% in the district compared to a 3.3% decline nationally. This shows that Kāpiti has nearly recovered the lost ground of the June quarter lockdown.
Consumer spending in Kāpiti has grown 1.2% over the year to September 2020, well ahead of the national decline of 2.7%. Spending in Kāpiti during the September quarter was 8.6% higher than September last year, with the district benefiting from the shift from commuting to remote working, as residents spend more in the district.
Consumer spending in Kapiti has grown 1.2% over the year to September 2020, well ahead of the national decline of 2.7%.
House values in the district have appreciated strongly, up by 14.9% over the year to September 2020, compared to 8.0% nationally. At the same time, the number of sales in Kāpiti has eased back 10.2%, putting further pressure on house values. In spite of this, residential building consents have continued to ease, with the number of consents issued down 8.1% over the past year. Nonresidential building is faring better, with the value of non-residential consents up by 13.8% over the past year, buoyed by Takiri House South at Coastlands.
The number of Jobseeker Support recipients has continued to rise, up by 278 or 18.2% over the year to September 2020. This is below the national growth of 27.3%. However, the labour market remains relatively tight, with the unemployment rate notching up slightly to 4.0%.
Key economic indicators
Economic activity rebounded strongly in the September 2020 quarter as the post-lockdown surge boosted spending levels and saw activity across various sectors attempt to make up for lost time. The pandemic still looms large over regional economies, and the pathway ahead is uncertain. But after a hammer blow to the economy in the first half of 2020, the economic rebound in the September quarter has set New Zealand on a more optimistic course ahead. Sustained export activity, combined with New Zealanders opening their wallets to domestic tourism, new cars, and home improvements, has buoyed confidence that the New Zealand economy will emerge from COVID-19 less battered than other parts of the world. The strength of the bounce back in economic activity is cause for celebration, but make no mistake, the pandemic has not finished yet.
Download the full Infometrics report here