Auckland has voted and Phil Goff managed to keep his job securing over 150,000 votes which almost double that of his rivals. Phil ran a low profile campaign without making any new election promises. He pledged to continue working on the city rail project which will continue to disrupt business in the city. But when the project is finished the house values around the inner city suburb like Mt Eden would likely reflect the increased convenience of catching light rail into the city.
Tim Shadbolt managed to keep his job in Invercargill too.
Wellington has voted to change their mayor and Foster has unseated the incumbent mayor. Similarly Hamilton scored a new mayor after the incumbent mayor became unpopular after hiking rates by almost 10%. Tauranga scored a new mayor too.
What this shows us is that if the mayor doesn’t listen to its people or increases rates significantly (like 10%), the people will vote them out.
It will be interesting to see how a region’s property values are correlated with the stability of mayorship. Do properties located in cities that have mayors who serve for several terms experience a greater rate of growth in property values than cities who are always changing their mayors?