Welcome to the November edition of our newsletter.
This month wishing our readers a very Merry Christmas and all good things for the New Year!
We have kept the link to some of the local talent who are currently looking for employment after restructuring if you are interested in some really highly skilled/talented and loyal individuals follow the link… Please feel free to pass this on to other interested businesses.
Happening in Whanganui…
Masters Games; Whoever said that if you want something done well, ask a busy person must know all of the fantastic volunteers who are already giving so much time, energy and effort to help the New Zealand Masters Games become one of the most memorable events ever!! Read more here… or go to their web site for all of the details.
Opportunity to have your say: Retail payment systems consultation Retail payment systems are used to transfer funds from consumers to merchants in exchange for goods and services. They include credit and debit cards, the EFTPOS system, as well as cash, cheques and bank transfers. Find out more and make a submission here or if you would like assistance in making a submission please let us know
The IRD are taking a break over the festive season so will return with their free seminars in the new year.
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Treasury reports economic data released in October continued to point to faster GDP growth in the second half of 2016 than forecast in the Budget Economic and Fiscal Update.
NZ property market -Auckland is one of four regions to hit record high median sale prices in October, while the national median price eased by $5,000 to $510,000, according to the latest figures released today by REINZ, source of the most recent, complete and accurate real estate data in New Zealand.
Retail card sales for New Zealand still strong with mostly growth for the same period last year.
New Vehicle sales in New Zealand had a very strong performance in October.
Our traffic light system gives a snapshot of the current economy. In October the trend has been good still showing strong growth in most sectors.
Whanganui’s economy:- house sales volumes up again with a 44.8% growth in sales volumes sales over the same month last year sales of new vehicles disappointing but still showing long term growth potential , building consents up slightly. Electronic Card sales were still showing growth in value of the previous 12 month period.
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(Top) Economic data released in October continued to point to faster GDP growth in the second half of 2016 than forecast in the Budget Economic and Fiscal Update. The Quarterly Survey of Business Opinion showed a strong expansion in business activity in the September quarter and a lift in business confidence, driven by the construction and tourism industries. Demand in the economy continues to be propelled by record net migration inflows, housing demand and tourist arrivals, while household retail spending was also solid. All told, data point to real GDP growth in the September quarter of around 0.8%. Other indicators of activity remained positive, as key drivers of demand persisted. High consumer confidence is expected to support private consumption growth in the December quarter, and house price growth rebounded in September, following a fall in August, as the market adjusted to the Reserve Bank’s tightening of loan-to-value lending restrictions for investors nationwide. High house prices are expected to continue to support residential investment growth. A more positive outlook for real and nominal GDP than in the Budget Update forecasts supports a stronger outlook for the Government’s tax revenue over the year ahead.
A solid lift in business activity and business confidence continues to point to stronger GDP growth in the second half of 2016 than forecast in the Budget Update.
Demand in the economy is driven by elevated net migration inflows, housing demand and tourism spending. The export price recovery is expected to continue.
Annual inflation remained weak in the September quarter, owing to low petrol prices and a reduction in vehicle levies. However, inflation is expected to rise from here.
International data were mixed but generally positive and expectations of US monetary tightening increased.
NZHouse sales (Top) Auckland leads price rises as volumes continue to fall
Despite a nationwide drop in sales volumes,
Auckland is one of four regions to hit record high median sale prices in October, while the national median price eased by $5,000 to $510,000, according to the latest figures released today by REINZ, source of the most recent, complete and accurate real estate data in New Zealand.
Auckland’s median house price has risen 16% year-on-year to $868,000 -lifting $119,750 over the year.
This rise also represents a 5% increase on September 2016, and a seasonally adjusted 4% on September (up 17% year-on-year).
Three other regions posted record median sale prices in October with Northland reaching $399,000, Waikato/Bay of Plenty lifting to $460,750 and Southland equalling its record high of $225,000 reached in January 2008.
At the same time, the national median price was $510,000, up 10.9% year-on-year, although down slightly (1%) on the record $515,000 in September 2016.
All of this occurred in spite of a nationwide drop in sales volumes. The number of sales for October 2016 was 6,727, a fall of 9% on September. Compared to October 2015, sales volumes nationally fell 14% with Auckland experiencing a 16% drop and Waikato/Bay of Plenty seeing a 25% decrease.
NZ Retail Card Spend (Top) Retail growth has remained steady in September with growth across most of the sectors monitored. The sectors which are still under pressure are furniture and flooring and apparel which were still marginal down on the previous year. Fuel sales values were also down but this is due to a weaker oil price rather then lack of demand which is helping keep inflation at low levels. Top Categories were takeaways, accommodation bars cafes & restaurants and accommodation which is a consistent trend reflecting the strength of the national tourism sector.
NZ New Vehicle Sales (Top) New Vehicle sales in New Zealand have continued strong and in positive trritory of 1.2% growth for the In October 2015 a total of 8 910 new cars were sold and in September 2016 the figure was up to 10 795 again a good increase of 23%.
House sales have continued to lead the way with 45 % increase in sales over the previous month recorded once again the local indicators we monitor are still showing positive growth which is good for our economy we have also seen an increase in building consents as the housing stock comes under pressure. New car sales stalled in October with 33% less vehicles sold this is off a low base and still trending positive over the longer term.
with sales rising 45% in Wanganui, 43% in Levin and 11% in Palmerston North.
Compared to September sales volumes rose 1%, with sales rising 16% in Manawatu Country, 8% in Palmerston North and 6% in Levin.
On a seasonally adjusted basis sales across the region rose 5%, indicating that the rise in sales was larger than normal.
The median price across the region rose $12,250 (+5%) compared to October 2015. Prices rose 30% in Manawatu Country, 24% in Feilding and 22% in Levin. Compared to September the median price rose $5,650 (+2%), with prices rising 9% in Fielding and 3% in Palmerston North, but falling across the rest of the region.
On a seasonally adjusted basis the median price fell 2% compared to September.
The number of days to sell improved by one day in October, from 28 days in September to 27 days in October.
The number of days to sell improved by four days compared to October 2015. Over the past 10 years the average number of days to sell during October for the region has been 42 days. There is currently 14 weeks of supply available across the region, a drop of 15 weeks over the past 12 months.
REINZ Spokesman, Bryan Thomson noted that, “An emerging feature of the market has been the increase in the number of auctions, albeit off a low base, as the level of buyer interest has increased and the number of properties for sale has fallen. First home buyers continue to be active in the market although the number of investors has declined somewhat.”
Whanganui Card Spend(Top) The top category this month was once again Hardware and Homeware with Bars/Cafes and Restaurants back with department stores showing a positive growth .
Top 3 sectors were
Hardware and Homeware
Bars Cafes and Restaurants
The bottom three sectors were
Fuel (Lower pump prices- which in effect is a positive)
Apparel (flat and affected by changed market dynamics)
Card spend comparison by region monthly growth over previous year
Source Market View Card spend comparison by region month growth over previous year
Card spend comparison by region monthly growth over previous year dollar value of goods purchased September 2016.
Source Market View
Whanganui still had positive growth in October and was third behind Ruapehu and Rangitikei which are both off lower bases.
Whanganui New Vehicle Sales (Top) In October 2016 new vehicle sales were down on the previous year with 23 less new cars sold which is 33 % down on the previous year this large decrease with the negative growth experienced in November and December 2015 putting average growth under pressure at negative 2.7% for the month the trend however remains positive in spite of the poor sales in October and given the strong performance in the national sector there is still reason for optimism.
In October 2016 there were 65 Building Consent applications. Based on a 12 month moving average we have again seen an improvement in value of consents passed with strong growth indicating the individual values of projects in a growth phase.
CELEBRATING WHAT’S NEW AND GIVING STAFF THE CHANCE TO BOND (Top) Whoever said that if you want something done well, ask a busy person must know all of the fantastic volunteers who are already giving so much time, energy and effort to help the New Zealand Masters Games become one of the most memorable events ever. With an expected number of enthusiastic participants of around 5,000 attending the largest annual multi-sport event in Whanganui from 3 to 12 February 2017, the volunteers and staff have several new initiatives in store.
So, what’s new and why is this so important for participants at the New Zealand Masters Games?
“We have focused on delivering on our promise to create a magical experience in The Games Village”, explains Whanganui Events Trust Chief Executive Kathy Cunningham. Traditionally held in a large marquee in Springvale, the Games Village is now in Whanganui’s CBD at the War Memorial Centre. The new venue will bring an energy and exciting vibe to the CBD and will give participants and supporters a whole new experience with ethnic and gourmet food trucks, an acoustic stage, a wine bar and comfortable outdoor seating which will be the perfect place to meet pre and post sports sessions. The forecourt is open to the greater Whanganui community and welcomes all visitors to the region to enjoy the forecourt festivities.
All those supporting or participating in the New Zealand Masters Games will be invited to enjoy the world class nightly entertainment on offer over ten nights. This includes the Opening Night band, “The Magnificent Seven” fronted by music legends Eddie Rayner from Split Enz, Jordan Luck from The Exponents and Peter Urlich from Th’ Dudes performing only New Zealand anthems that everyone knows and loves. The Waratahs, covers bands Union and CVE make up the weekends headline acts, while mid-week fashion shows, quiz nights and even a film festival will entice participants to enjoy seeing old friends and making new ones!
The Opening Ceremony is also a feature on the Games calendar since it will be held from 6:00pm on Friday 3 February at Cooks Gardens. Each of the 50 sports will have the chance to parade partly around the field that Peter Snell made famous. Kapa Haka, entertainment and the official opening remarks will mark the occasion. Then a procession will occur with all volunteers and participants marching from Cooks Gardens to the Games Village.
Did you know that the only qualifier to enter the New Zealand Masters Games is age? And, that the age for swimming and gymsports is 20? And, for waka ama, your waka must have a median age of 40! With several new sports on offer that includes equestrian distance riding and the long awaited return of outdoor rowing on the beautiful Whanganui River, these Games really has something for everyone. From Bocce to Blokart racing and from Basketball and Netball to Lawn Bowls, you can learn about each sport and so much more when you visit www.nzmg.com
“Gold medals aren’t really made of gold. They’re made of sweat, determination and a hard-to-find alloy called guts,” Dan Gable aptly said. So, whether you are after a medal, or just want to have a run around the Whanganui Bridges, or try your hand at Petanque, this Games is not to be missed. With ten days of 50 Sports and 5,000 participants enjoying the new Games Village, the New Zealand Masters Games brings around 2.5 million dollars in economic benefit to Whanganui. New Zealand Masters games is Whanganui’s most loved event.
Introduction to Business Seminars GST Workshops (Top) The IRD will resume this programme in Whanganui next year again and as soon as we get the updated time table we will publish it – Wishing you a merry Christmas and Happy New Year