Kapiti businesses are showing confidence in their outlook, as evident in rising levels of commercial vehicle purchases and non-residential building consents. Cr Angela Buswell, KCDC rep on the Kapiti Economic Development Leadership Group says over the June year, commercial vehicle registrations climbed 39% to 397 – a record level. The value of non-residential building consents rose from $15m to $41m over the same period.
The average current house value in Kapiti Coast District was up 18% in June 2017 compared with a year earlier. Growth outperformed relative to New Zealand, where prices increased by 6.7%.
The average current house value was $489,218 in Kapiti Coast District over the June 2017 year. This compares with $587,664 in the Wellington Region. House sales in Kapiti in the year to June 2017 decreased by 15% compared with the previous year.
Cr Buswell says Kapiti has a vibrant, diverse and thriving business community. She says the indicators used to track the district’s economic performance are encouraging and the future looks bright.