"The tree isn't declining anymore," he said.
Council contractor City Care had been maintaining it, which appeared to be working.
Dave Aitchison, of Arbortech Services, said in his report to council that the tree's overall health had improved, thanks to favourable growing conditions over the last two seasons and remedial work.
He said the decline and dieback of the upper canopy had stopped and there was vigorous regrowth.
"The new growths will help to sustain the tree and make its survival more viable, particularly in helping to promote new roots and improve resistance to ongoing fungal pathogen attack."
Mr Aitchison had noticed honey fungus growths at the base of the main trunk, which had also been there last year but in a different spot.
This was due to the recent wet and humid conditions - ideal growing conditions for mushrooms.
Mr Aitchison said it couldn't accurately be determined if the tree's roots were infected by the fungus but the increase in the canopy growth over the last four years indicated the rooting system was improving.
There were "no significant hazards" and, overall, the oak was safe.
"The overall structural integrity and stability of this tree does not appear to be compromised."
Mr Aitchison said continued maintenance would ensure it kept improving.