Auckland’s economy continues its steady recovery, with several key indicators showing improvement as of March 2025.

According to the Auckland Council’s Social and Economic Research and Evaluation Team, the median house price for the month was $1,040,000.

While slightly above recent months, it remains 5% lower than a year ago and 31% below the peak seen in 2021.

This signals that the housing market is stabilising, although still below its post-pandemic highs.

For the year ending March 2025, the total number of houses sold reached 22,473.

This marks a consistent rise over the last six months and is 23% higher than the low point of May 2023.

However, it remains 38% below the peak reached in July 2021.

The increase in sales, though still well below the highs of 2021, indicates a steady recovery and could mean a more balanced market in the coming months.

Rents in Auckland have also remained stable, with the average weekly rent for February 2025 sitting at $685.

This is comparable to the previous few months and similar to rent levels from one and two years ago, though still below the highs seen between 2017 and 2021.

The rest of New Zealand saw an average weekly rent of $643, with only a modest 2% annual increase over the last five years.

New housing developments have shown a modest increase as well. In the year ending March 2025, 14,049 new dwellings were consented, which is a 2% rise from February 2025.

This marks the largest increase since 2022, though it remains 36% below the peak seen in September 2022.

The construction of new homes is still lagging behind pre-Covid levels, but this increase may signal a shift towards recovery in the housing supply.

Meanwhile, the real value of non-residential building consents stood at $2.39 billion for the year, showing a slight recovery from earlier months but still 22% lower than a year ago.

This mirrors the cautious approach many developers are taking in the current economic climate.

On the trade front, the value of imports through Auckland’s seaports for the year ending March 2025 was $30.5 billion, which represents a steady recovery from the Covid lows but is still 9% below the peak of April 2023.

One bright spot is business confidence, which has been on the rise.

The latest data from the New Zealand Institute of Economic Research (NZIER) shows that 31% of businesses expect the general business situation to improve in the next three months.

This marks the third consecutive quarter of rising optimism, reaching its highest level in ten years.

For Coasties, these economic updates hold several implications.

The stability in housing prices and the steady sales figures could provide opportunities for those looking to buy or sell in the coming months.

The property market, while still lower than the highs of 2021, is showing signs of resilience.

Rent prices holding steady may also offer some relief to those navigating the rental market, as more people consider relocating to areas like Orewa and Silverdale, where housing is often more affordable than in central Auckland.

In addition, with the rise in business confidence, local businesses on the Hibiscus Coast could benefit from a positive shift in consumer sentiment.

The uptick in property sales and the construction of new homes could also lead to increased demand for services, making it a potentially good time for local enterprises to expand and attract new customers.

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