Photo: ODT filesHouseholds in Otago are the second most pessimistic in the country, the Westpac-McDermott Miller regional economic confidence survey for the March quarter shows. In contrast, economic confidence in Southland picked up sharply in the quarter, reflecting a ‘‘hot’’ housing market. The region’s housing market continued to have strong sales growth and escalating property prices. Regional economic confidence edged lower with six of 11 regions — Auckland, Bay of Plenty, Gisborne-Hawkes Bay, Wellington, Nelson-Marlborough-West Coast and Otago reporting a fall in the March quarter. The report said there was little doubt the strong housing market had had a direct bearing on regional economic confidence.

Source: Otago Daily Times March 30, 2021 15:22 UTC