Buller’s prospects continue to shine despite tough economic climate

The Buller District’s economic activity remains strong, according to the latest Infometrics Quarterly Economic Monitor.

Buller’s provisional GDP grew 0.1% in the year to June 2024, well ahead of the West Coast region on -0.3% and the national average, which declined 0.2% overall. This is due to a strong resurgence in the mining sector.

Employment for residents living in Buller rose 0.9%, falling short of the West Coast region (1.6%) and New Zealand overall (2.1%). Growth in Buller’s employment is currently led by the mining sector and opportunities in administration and support services.

The Buller District’s dairy payout for the 2023/2024 season is expected to be approximately $115 million, $6 million lower than last season, assuming that production levels from last season are maintained. This mirrors the national trend, with the total dairy payout for New Zealand for 2023/24 expected to be $707 million lower than the previous season.

Primary producers are still under pressure, although farm input costs flattened in the March 2024 quarter. This, combined with improving dairy prices means Buller dairy farmers can expect to earn $3 million more in the 2024/25 season.

Visitors to Buller spent 330,800 guest nights in the district in the year to June 2024, an increase of 2.5% compared to the previous year. The national increase slowed to 5.3%, driven by a 5.2% p.a. fall in the June 2024 quarter. This is also in line with the general stagnation of international tourism recovery and a decline in domestic tourism.

Tourist expenditure in Buller rose 14.6% in the year to June 2024 compared to the preceding 12 months, well ahead of the national increase of 1.8%.

Electronic card consumer spending is up 6.3% across the West Coast in the year to June 2024, with Westland showing the biggest increase of 9.5%, Buller up 6.2% and Grey District on 3.6%, compared with 1.9% nationally.

The Buller District’s average current house value increased 7.9% to $364,377 in the year to June 2024, exceeding the national increase of 2.5%. The average house value for the West Coast region was $393,820 in June 2024, while the New Zealand national average sits at $923,899.

Housing affordability (calculated based on the ratio between mean house values and mean household incomes) stands at 3.6 for the Buller District in June 2024, compared with 6.9 for the whole of New Zealand. Over the last 10 years, housing was most affordable in Buller in 2020, when the index dipped to a low of 2.6.

Buller District Council Mayor Jamie Cleine says the new data shows Buller is holding its own despite considerable pressures on both businesses and individuals, contributing to a tough economic climate.

“As a district, we are still performing better than the national average in terms of provisional GDP, consumer spending and tourism expenditure. Employment is still on the rise, as are the numbers of jobseekers, with more people looking for work as a means of coping with cost-of living pressures.”

“The flow-on effects from the recent boost to our mining industry continue to uplift the Buller District and its economy, keeping business prospects bright for the whole coast.”The Infometrics Quarterly Economic Monitor publishes regular reports about local economies for the quarters ending March, June, September, and December.-

-ENDS-

For further information please contact: 
Community Engagement Team
Buller District Council
Media.Enquiries@bdc.govt.nz