It's going to be a sunny summer on the Coromandel – and the district council ain't talking ‘bout the weather.

The latest economic data for the Coromandel reveals this year to June has been kind to the district and the outlook for summer is also looking very positive according to economists, Infometrics.

Cathedral Cove. Photo: Thinkstock.

The independent company which provide economic forecasts and analysis presented the data at the most recent meeting of the Thames-Coromandel District Council's Economic Development Committee.

'Overall we heard some really positive trends, which in some cases sees our District ahead of the national average in most areas,” says Thames-Coromandel Mayor Glenn Leach.

Some of the key findings include Coromandel's unemployment rate is 4.1 per cent compared to the national average of 5.2 per cent.

While house prices, which are also below the national average (11 per cent increase compared with 13 per cent nationally), have increased 47 per cent, compared with the national average increase of 16 per cent.

Growth in international and domestic visitor numbers was also up, with guest night accommodation rising 6 per cent (national average: 5.8 per cent), while traffic flow around the Coromandel was also up 8.9 per cent, compared to the national average increase of 4.6 per cent.

Retail trade was also up 6 per cent on the Coromandel compared to the national average increase of 2.8 per cent.

These upward trends in our local economy, have also been shaped by what's going on nationally and internationally, says Glenn.

There's been a prolonged growth period in New Zealand's Gross Domestic Product. Over the past three years there's been a 2.2 per cent increase per annum and the Coromandel's economy is now 10 per cent larger than the 2010 Global Financial Crisis.

Economic growth means job creation, says Glenn, and in the Thames-Coromandel district the top two industries remain construction and tourism related jobs. Dairy prices are improving, while the seafood, fruit, meat and processed timber industries are also all performing.

The booming Auckland housing market is also impacting on the Coromandel's house sales and building consents, with the June quarter for consents on the Coromandel the biggest since 2008.

But Glenn says during their presentation, Infometrics cautioned the council that there are risks from Auckland's housing boom.

'Aucklanders' financial positions, and access to capital, could impact on housing demand here as tighter investor deposit requirements are likely to reduce access to capital, which may impact on free income available for holiday homes.

'From our perspective we just need to make sure that we continue to provide extremely good tourism product, we keep up with managing infrastructure demands, the projects we invest in and how we plan for the future, is all done with prudent and well thought out financial and project management,” says Glenn.

For more information visit the Thames-Coromandel District Council's website at: www.tcdc.govt.nz/business/Economic-profile-and-data/