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Auckland economic update March 2023

Ross Wilson
Auckland Council Research and Evaluation Unit, RIMU
Publication date:  

An overview of the Auckland economy for March 2023, in charts and graphs and with some commentary.

Highlights this month include:

  • GDP in the year ended December 2022 was 3.1% higher than a year earlier in real* terms – slightly better growth than the rest of New Zealand;
  • retail sales for the year ended December 2022 were 3.5% higher than a year earlier in real* terms – the rest of New Zealand saw a fall;
  • monthly median house price in January 2023 was $940,000 – 27% lower than a year prior, in real* dollars
  • other measures covered: house prices and numbers sold, building consents, weekly rents, employment, unemployment, GDP, retail sales, consumer spending and business and consumer confidence.

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

March 2023.

Selected 2022 updates



Previous 2023 updates. There is no January 2023 update.