Auckland economic update May 2023
Source:Auckland Council Research and Evaluation Unit, RIMU
An overview of the Auckland economy for May 2023, in charts and graphs and with some commentary.
Highlights this month include:
- weekly rents in February 2023 averaged $639, which was 6.5% lower than February 2022, in real* dollars, and similar to six years ago
- house prices in March 2023 averaged $1,000,600 – 22% lower than March 2022, in real* dollars, and similar to seven years ago
- number of houses sold in the year ended March 2023 was 18,476 – 36% lower than a year prior, and the lowest since 2009
- other measures covered: GDP, retail sales, employment, unemployment, house prices and numbers sold, building consents, weekly rents, consumer spending and business and consumer confidence.
*Note: real dollars are after adjusting for the effects of inflation.
Previous 2023 updates. There is no January 2023 update.
Selected 2022 updates