The latest data from Auckland Council shows the city’s economy is sending mixed signals this winter.

While business confidence has hit an 11-year high, employment and spending continue to slide.

Consumer confidence sat at 95.9 in June, higher than recent years but still below the long-term average.

Business sentiment was more upbeat, with a net 35 percent of Auckland businesses expecting improvement.

This marks the fourth straight quarterly rise and the strongest reading since 2014.

House sales are showing signs of life again.

In the year to May, 22,900 homes were sold across Auckland.

That’s 25 percent more than the 2023 low, although still far below the 2021 boom.

Median prices are holding steady at $975,000, which is similar to ten years ago and 36 percent below the 2021 peak.

New building activity remains slow. Just 13,864 new dwellings were consented in the year to May, which is 37 percent down from the 2022 high.

The commercial building sector is also quiet, with non-residential consent values down 23 percent on last year.

Wages may feel like they’re standing still too.

The average Auckland rent is $684 per week. That’s nearly unchanged over the past three years.

Retail sales and GDP figures are also soft, both down more than 1 percent in real terms compared to last year.

Locally, the economic drag may feel very real.

Auckland’s unemployment rate has climbed to 6.4 percent.

That’s higher than during the COVID lockdowns and the worst since 2015.

But for Coasties running small businesses, the lift in business confidence could signal better months ahead.

More activity in the housing market and stable rents may create new opportunities, even as challenges remain.

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