Median House Price
Median house prices in the Taranaki region continue to rise, up to a record $580,000 in June 2021, a 41.5% increase from June 2020, and up 9.4% from May 2021. Sales count has increased from May 2021, up 17.5% Days to sell in Taranaki sits at 33 days, much less than the 10-year average for June, which is 46 days.
Source: REINZ Monthly Property Reports
Taranaki Region$580K +9.4% on May 2021
New Plymouth$615K +3.9% on May 2021
Stratford$460K +24.3% on May 2021
South Taranaki$420K 0% on May 2021
GDP per capita
Taranaki has the highest GDP per capita in New Zealand.
In 2020, Taranaki’s GDP increased 5.1 percent, which was below the national average of 5.4 percent. This was mainly driven by forestry, fishing, and mining (mainly mining) and agriculture (dairy cattle farming), partially offset by a fall in primary manufacturing.
Source: Stats NZ
Taranaki GDP per capita$76,715 +5.1% year to end March 2020
NZ average GDP per capita$64,079 +5.4% year to end March 2020
Guest nights in Taranaki have settled down again after the Easter break, sitting at 48,700.
Source: Accommodation Data Programme
Total Taranaki Guest Nights48,700 May 2021
Average nights per guest2.10 May 2021
Retail spend in Taranaki continues to show increased levels compared to the same time last year. Of the $128.7m spent in March 2021, $13m was spent by New Zealand visitors from outside the region, an increase of 1.6% compared to March 2020.
Total spend March 2021$128.7M +10.6% since STLY
Customers from outside Taranaki$13M +1.6% since STLY
Visitor spend is now broadly calculated using Tourism Electronic Card Transactions (TECTs). The TECTs are an interim replacement to Monthly Regional tourism Estimates (MRTEs) that provide insights into monthly tourism spend.
The MRTE series was disrupted by COVID-19, as the methodology for weighting the measured electronic card transaction spend up to the whole of industry spend became unusable.
The TECTs instead aim to present the measured electronic card transactions (ECT) attributable to tourism but without any attempt to represent the total spend. This method is considered to be the best way to provide spend data to the industry while travel is severely affected by COVID-19 border restrictions. Users need to be aware of the limitations of this approach.
They represent card spending only.
The TECTS represent part of total tourism spend as they are based almost exclusively on physical electronic card transactions, and do not include any other form of spending such as cash, pre-purchases or online spend.
Taranaki visitor spend$250m up 17.26% on the year ending May 2020
New Plymouth visitor spend$200m up 17.44% on the year ending May 2020
South Taranaki visitor spend$37m up 6.55% on the year ending May 2020
Stratford District visitor spend$13m up 16.6% on the year ending May 2020
Taranaki Trends is a bi-annual publication covering a wide range of national and regional measures, to enable Taranaki businesses and researchers to find key information and make informed decisions.
The Taranaki Business Survey is a bi-annual business confidence survey, which goes out to a range of enterprises of different sizes and sectors.
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