Source: Infomterics Horowhenua District Quarterly Economic Monitor 2019-12
The latest Economic Development Quarterly Update report from independent economics firm Infometrics, shows that the Horowhenua economy continues to excel, growing 3.2% in the last calendar year, significantly more than the national average.
Population growth in Horowhenua has exceeded the national average for the fourth year in a row and continues to grow as reflected by increased health enrolments, house prices, and traffic flow.
Horowhenua house prices have drastically increased by 17.8% over the last calendar year, staggeringly higher than the national average, 3.6%. This spike in house prices may account for the 10.4% drop in house sales.
With the Horowhenua population set to boom over the next decade - especially with the expected construction of the O2NL expressway, bringing more jobs to the region and strengthening our connection with the capital - we can expect to see demand for housing and prices soar.
While our unemployment rate continues to sit higher than the national average, our job seeker support recipients have only increased by 7.3% compared with the national average of 10.6%. With exciting new regional projects in the works and the ministerial elections in sight, it will be interesting to see how these numbers fluctuate.
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