The OCR stays at 2.5% and the New Zealand economy is expected to make slow gains through the rest of 2009 and 2010. That’s what Dr Bollard is telling us as of yesterday. It’s encouraging stuff really by comparison to recent months. Tony Alexander, BNZ is giving us a similar scenario on the future, but is even more positive about property prices due to a national housing shortage. I agree with these sentiments. In New Plymouth we have a shortage of stock to sell and a surplus of cashed up buyers we can’t satisfy. These are not huge numbers, but enough to keep us constantly short of good property to offer, and more than one buyer on most properties. Our commercial agent is flat out selling industrial land and leasing retail and office space. There is a long way to go before we declare the next boom is on, but business is steady and demand is high. We’ll settle for that in Taranaki meantime. Summer is starting to prove lucrative in the North Taranaki district now with all the events we seem to be getting here. Parihaka, Womad, Americana, Taranaki festival of Arts (on now), Rhododendron festival, many top class Concerts at the Bowl of Brooklands, Rugby at Yarrow Stadium, World cup Triathlon, Davis cup, One day cricket, and on it goes all summer. These events certainly stimulate the local economy with all the visitors and locals alike spending money. Not only that, but the whole demeanor of the city and its citizens is uplifted, confident, expectant and actively supportive of the whole events thing we seem to have here now. We have no doubt Spring & Summer will treat us well in terms of business and pleasure here in Taranaki.

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