The northern regions of New Zealand have shown the strongest job growth in the past nine years, with Manawatu-Wanganui also enjoying above-average growth at 28%. In the past year, employment in Waikato grew by 3%, slightly less than the nationwide growth of 4%. The region’s job growth has alternated between below-average and above-average patterns since 2019, following a period of above-average growth in 2017-2018.
Currently, Waikato’s unemployment rate is 3.8%, slightly higher than the national rate of 3.5%. However, historical trends indicate that the region’s unemployment rate typically closely tracks the national rate. In terms of its impact on the housing market, the current job market strength in Waikato doesn’t significantly diverge from the national average, suggesting no clear indication of particular strength or weakness.
It’s worth monitoring the influence of movements in Auckland’s housing market on the Waikato region, as there’s a traditional pattern of spillover effects. Demand in the region often follows on from a pick-up in the housing market in Auckland. This of course has impacts on Waikato property finance. Research your real estate financing options sooner rather than later. It is better to have your finance options in place before you need them.
Source data by Tony Alexander and First Mortgage Trust.
Fifo Capital for bridging and Waikato property finance.