Bay of Plenty is the top performing region in the country an ASB regional economic survey has revealed.

Todd Muller MP for the Bay of Plenty says it's an outstanding result considering this is the fourth quarter in a row for the Bay to come out on top.

Bay of Plenty MP Todd Muller.

The ASB/Main Report Regional Economic Scoreboard is an independent survey assesses regional strength through population growth, employment growth, housing construction and price movement and both retail and car sales.

'It wasn't that long ago we were happy with a top five rating amongst New Zealand's 16 regions. With this report we have achieved number one nationwide for four quarters,” says Todd.

'We're definitely the place to be in New Zealand. It's the growth in employment that really pleases me with our annual growth in employment at 5.7 per cent.

Todd says it is one thing to be a magnet for talent which the region clearly is, but it's quite another to match it with decent jobs.

'As a community, we're doing that in spades at the moment and long may that continue.

'Kiwifruit and horticulture more generally are noted as the underpinning industries which was reinforced when the Regional Caucus Committee visited last week.

'Our industry is booming and with significant developments coming on stream there will be a demand for thousands of more jobs in kiwifruit alone over the next few years.”

ASB Chief Economist Nick Tuffley says the Bay of Plenty economy continues to look good on all fronts.

'The Bay of Plenty remains top dog on the Scoreboard, with first-place rankings across all key measures, including for construction, house prices and retail sales.

'Seasonal kiwifruit and horticulture exports remain buoyant in the region which undoubtedly helped employment data. Teamed up with a bumper summer for the region's tourist sector, and the Bay was a clear winner this quarter.”

Auckland remains in second place on the scoreboard, but Nick suggests it's breathing down the Bay of Plenty's neck.

'Auckland is booming inside and out, with construction as rampant in the CBD as it is in the suburbs. With much of this activity likely to continue, we expect Auckland to keep snapping at the Bay's heels for top spot.

'Auckland's CBD is starting to resemble Christchurch, with a crane on every corner and road cones obstructing every other footpath or road.

'Similarly, the 'No Vacancy” sign is up across the city's hotels and motels; with the country's lowest guest night growth symbolic of a lack of hotel rooms.”

Biggest mover

The Hawke's Bay proved to be this quarter's biggest mover on the Scoreboard, receiving four stars. Horticulture and viticulture remain strong areas for the 'other” Bay.

'Hawke's Bay's housing market is also healthy, with sales activity particularly buoyant. Meanwhile, the normal surge in jobs over the summer was larger than usual this year, yielding positive results for the region,” says Nick.

Country-wide housing upturn

Results of the Scoreboard this quarter also highlight New Zealand's housing upturn. While this can be attributed, in part, to Auckland money making its way through the regions, record-low interest rates continue to be a factor.

Tourism remains a strong driving force across the country, so it's little surprise Otago features among the New Zealand's top performers.

The continued tourist love affair with Queenstown keeps Otago at third equal this quarter, with guest nights up 18 per cent on this time last year.

'Otago's scoreboard reads mainly positive with the main exception being job growth. This has fallen by around two per cent compared to this time last year, and speaks to a looming shortage of beds not only for tourists, but for workers as well.”

The Waikato loses a star this quarter as the weight of low milk prices takes its toll. Despite jobs down on this time a year ago and consumer confidence taking a hit, the thriving housing market continues to partly offset the dairy sector's struggles.

The challenges continue for the Taranaki, with the region battling the double-hit of low dairy and low oil prices.

'On the positive side for Taranaki, the region is riding the nation's tourism wave with guest nights holding strong over the quarter.”