Taranaki regional property market insights

The average cost of buying a home in the Taranaki region in November 2024 was $641,900, according to Trade Me Property data. This was an increase of 0.7% compared to October 2024, and down 0.6% compared to November 2023.

There were 828 properties available for sale in Taranaki on Trade Me Property in November 2024. This was up compared to October, when 783 properties were available on our site. It was broadly similar when compared to the same period last year, when 804 properties were available for sale in the region on our site.

The average price of renting a home in the Taranaki Region was $600 in November 2024, according to Trade Me Property data. This was down very slightly on October ($610) but up from November 2023 ($580)..

There has been a sizable increase in the number of properties listed for rent on Trade Me Property in the Taranaki region in November this year, compared to the same month in 2023. There were 246 properties available for rent in Taranaki last month, compared to 168 the year before, meaning much more choice for would-be renters.

Among people surveyed in our September 2024 Property Pulse survey* who were seeking to buya home in Taranaki:

• 1.3% were currently in the process of buying a home.
• 4.6% were just thinking about buying a property.
• 2.4% were looking to buy a property in the next year.
• 3.5% were looking to buy a property in the next 1-2 years.

Would-be buyers in the Taranaki region say they would be most willing to compromise on the size of the garden/outdoor spaces in order to stay within their buying budget, compared to a range of five other options including size of section, location and property condition.

Taranaki is visually dominated by the volcanic mountain from which it takes its name. This is no surprise, when you consider that Mt Taranaki is visible from space.

The residents of this beautiful part of Aotearoa have so much at their fingertips. New Plymouth, the region’s only city, has a thriving arts and culture scene, thanks to the presence of institutions such as the Govett-Brewster Art Gallery/Len Lye Centre. For those more interested in the great outdoors, Egmont National Park offers everything from climbing to skiing to tramping. Surfing is also a hugely popular pastime for residents of coastal Taranaki, as well as swimming at some of the region’s beautiful sandy beaches.

According to the June 2023 census, there were 127,300 residents living in the Taranaki region, everything we just described. Of these, around 69% live in New Plymouth, and the average population density across the region was 18/km2.

The main districts within the region are New Plymouth, South Taranaki and Stratford. After New Plymouth city, the next largest urban centres in the Taranaki region include Hāwera, Bell Block and Waitara.

According to the Ministry of Business Innovation and Employment (MBIE) the dairy cattle farming industry was the largest employer in 2018 (by number of employers), followed by school education and then cafes, restaurants and takeaway food services. In total, according to MBIE data from the same period, Taranaki accounts for 3% of Aotearoa’s total GDP.

*Data from Trade Me Property Pulse Survey 2024. 1,274 total responses, 57 responses from the Taranaki Region.