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Greater Buyer Choice Attracts Buyers To Auckland Housing Market

November 4, 2019

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What makes Auckland different?

August 15, 2015

BNZ Chief Economist Tony Alexander recently shared his thoughts on what makes Auckland different from the rest of New Zealand.

 

Auckland is already vastly different from the rest of the country and projected to become more so. Here are just some of those differences:

 

  • Auckland accounts for 34% of New Zealand's population, with this projected to increase to 40% by 2043

  • Between 2013 and 2043 Auckland's population is projected to rise 50%, Canterbury 30%, Waikato 22%, Bay of Plenty 18%, Taranaki 16%, Wellington, Tasman, Nelson 10-15%, everywhere else 7%

  • 50% of people migrating to New Zealand go to Auckland

  • Between 1991 and 2014, New Zealand enjoyed a net influx of 100,000 young people aged 15 - 29. Without Auckland, this would have been a loss of 21,000

  • Auckland will account for 94% of New Zealand's working age population growth between 2013 and 2043

  • Over 39% of Aucklanders were born overseas

  • 35% of Aucklanders speak more than one language. In the rest of New Zealand this is 20%

  • The 2013 median household income in Auckland was $76,500, Wellington $74,300, Canterbury $65,000, and everywhere else below $60,000

  • Auckland will produce two-thirds of NZ's GDP (economic) growth in the next three decades

  • Auckland has a number of house sales proportionate to its population. But mainly because sales prices are twice the rest of the country, Auckland accounts for near 60% of all sales by value.

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