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Auckland's economic growth is far outstripping the rest of New Zealand's, driven in part by the city's strongest retail sales growth in a decade. Aucklanders have more job options, retail spending habits have risen sharply as they become increasingly confident, more housing is being built, more new migrants stay and settle in Auckland rather than elsewhere in New Zealand and more tourists are spending time in the city. The latest Auckland monthly economic update issued by Ross Wilson, Auckland Council's economic, social research and evaluation analyst, revealed the true extent of the city's rising fortunes.
Retail sales - Auckland vs. rest of NZ:
Based on a range of economic indicators, the city is in the grip of an economic boom, the likes of which we have not seen for at least a decade. • Auckland's retail sales were up by a record-breaking 8.3 per cent annually compared to 2.4 per cent for the rest of New Zealand. Retail sales in Auckland had been in a severe decline in 2008-2009, down 8 per cent annually but the increase has been rising since 2012 and the graph shows the rate of growth rising. • Charts showed Auckland's real gross domestic product growth rate is running at 3.2 per cent annually compared to the rest of New Zealand's 2.3 per cent. Those figures from Infometrics are based on the annual average percentage change and compared to 2009 when GDP growth was in negative territory at -3.6 per cent. Auckland's annual employment growth was pegged as running at 6.5 per cent in June. Annual employment growth was last in negative territory for a sustained period during 2010. • Unemployment rate is falling but still running at 4.7 per cent. The city's popularity with new migrants was revealed by one chart which showed the city got 31,951 migrants in the year to July, compared to 37,064 for the rest of New Zealand. • Auckland's median house sale price stood at $825,000 in July and there were 31,388 residences sold in the city the year to July, that chart showed. Auckland had 9622 dwelling consents for the year to July. The real value of non-residential Auckland consents stood at $1.6 billion. • Tourism guest nights stood at 7,274,000 for Auckland in the June year, compared to 30,293,000 for the rest of New Zealand, a chart showed. The data is for the entire Auckland region and was compiled from a number of sources including Infometrics, Statistics New Zealand, the Real Estate Institute, NZ Institute of Economic Research and elsewhere. See the latest Auckland Council economic update here: