Mayor Liz McMillan at this year’s Business of the Year Awards, which celebrated local success stories.
Ashburton District’s economy continues to outperform the wider Canterbury region, according to the latest quarterly economic monitor from Infometrics.
The Quarter 2 report shows the district recorded GDP growth of 3.0 per cent, compared with 2.6 per cent across Canterbury, supported largely by the strength of the dairy sector.
Group Manager of Compliance and Development Ian Hyde said the results reflected the resilience and diversity of the local economy.
“These figures are encouraging and show that Ashburton District is continuing to perform strongly, even at a time when many communities are facing economic pressure,” Mr Hyde said.
“Our strong primary sector continues to play an important role, but it is also pleasing to see positive results across housing, tourism and employment.”
The housing market is continuing to gain momentum, with house sales up 17.9 per cent, well ahead of Canterbury’s 6.6 per cent. House values increased 3.4 per cent, compared with 2.0 per cent regionally.
Tourism expenditure increased by 8.4 per cent in Ashburton District, while Canterbury recorded a decline. Guest nights were up 7.4 per cent, compared with 4.8 per cent across the region, and international tourist spending rose by 20 per cent.
The district’s labour market remains strong, with employment growing by 1.8 per cent compared with 1.0 per cent in Canterbury. Unemployment in Ashburton sits at 3.2 per cent, below the regional rate of 4.1 per cent.
Mr Hyde said the report showed that Ashburton remained one of the more affordable places to live in Canterbury, with stronger housing and rental affordability than the regional average.
These results appeared alongside lower crime and a significant reduction in housing need indicators.
