Stats and Insights - Sept 2019
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 2019
The Kapiti Coast economy has grown by a solid 1.9%, just below the national rate of 2.4%, according to Infometrics’ provisional GDP estimates.
Statistics New Zealand’s annual estimates show that Kapiti’s population grew by 1.3% in the year to June 2019, just below national growth of 1.6%. This is consistent with health enrolments, a more current proxy for population growth, which grew by 1.3% in the year to September 2019. Consumer spending grew by 4.5%, well ahead of population growth, indicating strong consumer confidence.
4.5% increase in consumer spending indicates strong consumer confidence
The district’s unemployment rate has fallen over the past year, down to 3.6%, below the national average of 4.2%, indicating a tight labour market. Jobseeker support recipients grew by 9.0%, slightly less than the national increase of 10.3%, and reflective of rule changes at a national level around benefit sanctions and eligibility.
Kapiti’s housing market remains hot, with house values growing 10% over the year to September 2019 as the number of houses sold eased by 2.0%. The building sector remains busy, but residential consents only grew 2.2%, and are sitting just above the long-term average. Non-residential building consents have fallen by a third over the past year, reflecting a lack of major building projects taking place.
Car and commercial vehicle registrations both eased by around 5.0% over the past year, largely following a national trend of easing registrations. State highway traffic grew modestly, after a boost in 2017 following the opening of the Kapiti Expressway.
Kapiti’s tourism sector has grown modestly, with commercial guest nights up by 4.5% over the past year, ahead of national growth of 1.2% as international visitor arrivals have plateaued. Visitor expenditure in Kapiti has been flat over the past year.