MANAWATU ON THE MOVE

Real estate in the Manawatu District – particularly in Palmerston North and Feilding – is booming, due to extremely tight supply and demand. The supply issue stems from a rapidly growing population, which has likely resulted from increased investment in the region and internal migration.

The district is so strong, that in the year to September 2019 it outstripped the national growth rate of 2.4%, with growth of 3.1%.

Construction was one of the key reasons for economic growth, with investment in construction increasing by 50.2% to the year ended September 2019.

Correspondingly, the number of residential building consents in the Manawatu increased by 34.3% from the previous year, while the number of new dwellings increased by 35.6% over the same period.

In total, 221 new homes were consented in the district over the year