An overview of the Auckland economy for April 2024, in charts and graphs and with some commentary.

Highlights include:

• real* value of imports by seaports for the year ended February 2024 was $31.6 billion, which was 6.2% lower than the year ended February 2023, but 7.1% higher than 5 years ago. For the rest of New Zealand, the figure was $32.6 billion (19.8% lower than a year ago);
• average weekly rent for the month of January 2024 was $687 (1.8% higher than January 2023 in real* dollars, but the same as January 2017). For the rest of New Zealand, the figure was $621 (1.9% higher than January 2023, and also slightly higher than three years ago);
• number of houses sold for the year ended February 2024 was 20,377 (6% higher than a year prior; higher than all of 2023; but lower than all of 2012-2022);
• median house price for the month of February 2024 was $1,026,000 - the lowest February since 2016, in real* dollars (2% lower than a year prior; similar to most of the last 12 months; 31% below the 2021 peak);
• number of new dwellings consented in Auckland in the year ended February 2024 was 15,254 (31% lower than the September 2023 peak; similar to the previous two months; above 2019 levels and earlier);
• real* value of new non-residential buildings consented in Auckland in the year ended $2,999 million (broadly similar to the last twelve months, but 11% below the November 2022 peak).

*Note: real dollars are after adjusting for the effects of inflation each quarter.

Measures covered: business and consumer confidence, GDP, imports, retail sales, employment and unemployment, house prices and numbers sold, weekly rents, building consents.

April 2024

Previous updates. 

January

February

March

2023

October

November

December