Hello 2021! Our first market update of the year, and it’s looking optimistic.

Economic Update

Hello 2021! Our first market update of the year, and it’s looking optimistic.

Consumer Confidence is continuing to rise, from 107 in November 2020 to 114 this January 2021, according to the ANZ-Roy Morgan Consumer Confidence survey released recently. This continual increase is excellent to see.

Despite lockdown and the impact of the closed border, businesses are doing remarkably. In the ANZ Business Outlook data for February, business confidence lifted 3 points to +12% while the activity outlook inched over +22%. Plus, investment intentions have raised up 9 points, employment intentions up 2 points, and capacity utilisation up 7 points – all well above where they ranged pre-COVID, in 2019. Infometrics also reports 2.6% regional growth in business units within Wellington, significantly higher than the 1.6% growth nationwide.

Community events like the Six60 concert and Van Gogh exhibition are also doing their part to encourage community spirit, consumer spending, and help Wellington thrive.

And that brings our first market update of the year to a close. It’s wonderful to see Wellington thriving and growing, both economically and as a community.

Here at HiAtlas we are still getting steady demand for furnished apartments with available properties being snapped up quickly, we'd love to hear from you if you have any requirements or have a property that would fit in our portfolio.