Success and sunshine in Taranaki

In Taranaki, our lifestyle is second to none. From epic mountain tracks and trails to the pristine coastline and world-class surf, vibrant urban centres, award-winning gardens and parks, an exploding food and beverage scene, and a diverse and growing events calendar — there is something for everyone.

We’re an attractive alternative to a main centre, offering the best bits of city living, with the richness and additional benefits residing here has to offer. It is easy to achieve an enviable lifestyle in Taranaki, and you don’t need to compromise your career, interests, or your daily coffee fix either.

A snapshot

Taranaki’s population is 124,600, most of whom live in the coastal city of New Plymouth. The region is split into three districts: New Plymouth to the north with a population of 86,100, Stratford in central Taranaki with a population of 9,880 and South Taranaki, which includes the main centre of Hāwera — a population of 28,700.

Invest, live, visit

Taranaki’s workforce has long enjoyed competitive wages and some of the highest rates of GDP in New Zealand, with the highest regional contribution to GDP outside of the main centres — currently sitting third behind Auckland and Wellington.

Our region is home to strong energy and dairy sectors, robust engineering, and primary production, alongside an engrained entrepreneurial spirit. Collectively we’re committed to and progressing towards our transition to a low-emissions, high-value economy, harnessing our regional strengths, talent, and infrastructure to springboard our successes and continue our strong economic contribution.

For instance, the recent launch of nine Branching Out food and fibre investment blueprints. The blueprints represent viable food and fibre opportunities that have the potential to add value to our economy by way of jobs, investment, and GDP, while building sectoral resilience through diversification. Traditionally we have been a major player and leader in dairy, and this isn’t a move away from this sector — it’s more about building others just like it.

We’re also home to Ara Ake, New Zealand’s new energy centre, and we’re investigating and attracting investment into offshore wind generation in Taranaki. This represents an important energy opportunity for the region and Aotearoa too, supporting our national net zero goals.

Energy and food are supported by rapidly growing tourism and events sectors, and visitors are increasingly becoming aware of our slice of paradise. Year-round we promote our region to visitors, and increasingly we’re hearing that people are making plans to move here — some bringing their existing businesses along with them.

Housing and regional growth

In Taranaki, many can purchase property that big city residents can only dream about, and the vast range of free activities gives locals the time to enjoy a great worklife balance.

In July 2022, the median house price in Taranaki was $620,000; on average, the median Taranaki property continues to increase in value by 7.5% each year. By district, New Plymouth’s median house price is sitting at $620,000, Stratford at $560,000, and South Taranaki at $460,000.

Located in New Plymouth, Taranaki’s most expensive suburb is Waiwhakaiho, which has a median house price of $1,162,300 and is a stone’s throw from some of the region’s best beaches and cafés.

Construction is also underway to develop a multi-million-dollar shopping complex in this area, including speciality retail stores, cinema, offices, and a 75-room hotel, reflecting regional growth and investment into the region.

Over the next 25 years, the New Plymouth District is expected to experience significant population growth, evident in the increase of residential building consents issued by the New Plymouth District Council (NPDC) — up 11% from March 2020 to March 2021.

Coupled with a $1.8 million boost through the Government’s Infrastructure Acceleration Fund (IAF) to cover NPDC’s contribution to the infrastructure required for the 300 new homes planned, and with major building works underway, we expect to see continued economic growth and people in work.

Major projects in the New Plymouth District include the Taranaki Base Hospital upgrade, with a six-storey building to house many of the hospital’s acute clinical services, and the restoration of the Taranaki Cathedral.

In early 2023, a visionary project led by Taranaki Foundation with mana whenua, NP Partners and NPDC is set to transform New Plymouth’s Kāwaroa Park into a futuristic, family-friendly experience that brings the unique nature, culture, history and stories of the site playfully alive.

In the heart of Taranaki, the Stratford district has also seen significant growth in recent years when it comes to residential building consents — a result of a steady increase in subdivision numbers year-onyear, up 86% in 2021 and 2022, compared to 2016 and 2017. It doesn’t look to be slowing down any time soon either.

Several large infrastructure projects within Stratford cater to this growth and will play a key role in attracting and retaining residents in coming years. The installation of a second water trunk main to increase water supply resilience, full facility upgrades to Wai o Rua — Stratford Aquatic Centre, and the new bike park project that is a constant hum of activity and drawcard for visitors and families from our neighbouring areas are some of the highlights.

To learn more about Taranaki’s growth, visit taranaki.co.nz.

Kelvin Wright, Chief Executive, Venture Taranaki/Te Puna Umanga