Dunedin’s economy expanding (Otago Daily Times)November 27, 2017
Dunedin’s economy is buoyant with 2% growth in gross domestic product (GDP) for the year to September, underpinned by population growth, including migrant gains.
Business confidence, car sales and commodity price outlooks are all on the ascent around Dunedin, while consents for housing, commercial and infrastructure work are flat or down.
Nationally, GDP growth is at 2.5% compared with Dunedin’s 2%, while all of Otago is at 2.9%, according to Infometric’s senior economist Benje Patterson.
”Most indicators of [Dunedin] spending and investment are showing expansion, albeit at a slightly slower pace than earlier in the year,” Mr Patterson said.
He said recent Statistics New Zealand data showed Dunedin’s population increased by 1.4% in the year to June, after 1% growth the previous year.
”By comparison, population growth has averaged just 0.6% over the past 10 years.”
MHP manages several industrial and retail properties in Dunedin, on behalf of groups of investors represented by Mitchell Mackersy Lawyers.