The latest Regional Trends summary released by ANZ recently has given Bay of Plenty MP Todd Muller plenty of reasons to smile.

The quarterly analysis shows the Bay is dominating the country across most metrics, with annual growth soaring to 6.8 per cent – the highest in 12 years and the strongest nationwide.

Activity in the Bay of Plenty is being underpinned by the resurgent horticultural sector and booming housing market, according to the latest ANZ Regional Trends report. Photo: File

'This [annual growth] has contributed to our annual average growth at 5.7 per cent, above the nationwide average by 2.9 per cent which is a stunning result,” says Todd.

'These are extraordinary numbers and the ANZ report reinforces that this growth is underpinned by our horticultural sector and housing market.”

Kiwifruit exports have grown year on year by 46 per cent, a 'remarkable result” believes Todd especially when compared to the industry outlook a few years ago.

The housing market is also booming with annual house sales up 32.7 per cent, house prices up 18.4 per cent, and dwelling approvals up 39.5 per cent.

Todd says employment has been an important issue for the region and he was hugely satisfied to see the local labour market added a further 2400 jobs and 4500 jobs listed on Trade Me over the last three months, up 24 per cent year on year.

This was matched by the lowest unemployment rate in the North Island at 4.7 per cent – the lowest it's been in seven years.

'Guest nights are also up 10.4 per cent annually showing that not only are we excelling in economic growth and employment but also in our tourism industry.”

'Ultimately we all are a part of this success. This is a region that is booming, but we need to keep totally focused to ensure we provide the infrastructure and conditions for this success to be sustained.

'I am confident that our Innovation Budget announced last week will keep driving our local economic engine, it's important that we do,” says Todd.

To read the full report click here.