For the first time, the value of international education has been measured in eight regions around New Zealand in a series of reports authored by Infometrics Chief Economist Adolf Stroombergen and the National Research Bureau (NRB) for Education New Zealand. Hilary Parker examines the regional impact of international education on two New Zealand areas.
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Councils nationwide have begun preliminary work scoping out key issues for their 2018 Long-Term Plan – a document that sets out each Council’s intentions for the next decade. The LTP process is an arduous one that puts the focus on localised issues affecting infrastructure, business and community development across all townships and communities within each territorial authority. Southland District provides an interesting case study for teasing out sub-district insights from Infometrics small area profiles.
Infometrics’ latest forecasts show house prices falling in the second half of 2017, as the flow-on effects of tighter mortgage lending conditions and higher interest rates dampen demand. The emergence of flat or falling house prices within the next few years will undermine consumers’ willingness to spend, while the discretionary portion of households’ budgets will be squeezed as interest rates gradually rise from their historic lows.
This month we chat to Adolf Stroombergen about what a day in his life as an economist looks like and what he is currently working on.
The softening New Zealand property market in recent months has essentially been a function of Auckland, its halo regions, and Canterbury in a post-rebuild environment, while property markets in other parts of the country have experienced a surprising amount of expansion. However, data on sales, prices, and the time it takes for houses to sell suggests that the growth in regional property markets is running out of juice.
Economic conditions in Southland improved slightly in the December quarter, with Infometrics’ provisional estimate of GDP showing growth of 1.4% over the December 2016 year. Improvements were seen across a range of indicators, including retail spending, vehicle sales, guest nights and migration. Traffic flows rose 3.3% over the year.
Auckland is New Zealand’s engine and is expected to outperform the national economy over the next four years, according to Infometrics Regional Perspectives report released today. The Infometrics Regional Perspectives report provides an outlook for economic conditions in New Zealand’s regions and industries over the next four years.
According to our Boho measure of creativity, Wellington is New Zealand’s most creative city. The Boho measures the proportion of a city’s workforce that is involved in creative and artistic occupations and industries. Professor Richard Florida popularised the Boho measure and argued that a vibrant artistic community is a necessary condition to attract talented people to fuel the knowledge economy.
The Living Wage is heralded as “the income necessary to provide workers and their families with the basic necessities of life. A living wage will enable workers to live with dignity and to participate as active citizens in society.” However, beyond the ideological hype, the following questions remain;
Workforce scanning and development is a key role that Industry Training Organisations (ITOs) undertake. Skills Active Aotearoa, the ITO for the recreation, sport and exercise industries released a comprehensive Workforce Scan late last year. The workforce scan was led by Maren Frerichs, General Manager of Industry Engagement at Skills Active. Shaun Twaddle, Infometrics Director, had a chat with Maren to find out why they put together the workforce scan and how they went about it.