The district’s GDP grew by 0.2 per cent while Canterbury’s shrunk by -1.3 per cent as did New Zealand at -0.4%.
5 July 10
The Selwyn district has emerged from recession in the March quarter ahead of both the wider Canterbury region and New Zealand as a whole.
The district’s GDP grew by 0.2 per cent while Canterbury’s shrunk by -1.3 per cent as did New Zealand at -0.4%.
One of the main drivers for growth in Selwyn was a 36 per cent increase in the number of non-residential building consents in the March quarter. The consents issued were to the value of $16.9 million dollars, up 35.5 per cent compared with the same period in the previous year.
The number of residential consents rose to 451 from 398 while house sales increased by 30 per cent and prices by 5.5 per cent.
On the downside the number of people in jobs continued to decline however Infometrics predicts this will reverse in the coming quarters.