Property investing in Taranaki
Everything you need to know about investing in real estate in Taranaki
Taranaki is a unique region with endless potential. Not only does it have a growing economy with agriculture, oil and gas, and tourism at its core, but it also offers one of the best lifestyles in New Zealand.
Everything from a small ski field and world-class west coast surf breaks to tramping the many tracks around the iconic mountain or enjoying galleries, coffee shops, and festivals — Taranaki has something for everyone.
Demand for affordable and luxury rental properties is strong. And with the region consistently yielding high capital gains year-on-year, when rental properties do become available, there's no shortage of people ready to snap them up!
Request a free rental appraisal before you invest
Found a potential investment property? Find out how much the rental yield could be by requesting a free assessment with one of our experienced property managers.
Your rental property assessment will include:
- The market rate for your rental property.
- The price you could achieve in today's climate.
- Changes in laws and requirements you'll need to meet.
Simply fill in the details and a member of our team will be in touch.
Taranaki's investment property hotspots
Taranaki has three main centres — New Plymouth, Hawera, and Stratford as well as many smaller towns surrounding the mountain and coastlines, covering many different price points and investment property opportunities. Learn more about the investment potential in each of these areas.
Note: The following statistics were supplied to us by Real Estate Investor and are accurate as of December 2022.
New Plymouth is a bustling, vibrant city with plenty of culture and heritage. The city has a fantastic array of shopping, cafes, and restaurants as well as a wide range of outdoor recreational activities such as the botanical gardens and the coastal walkway.
The median price in New Plymouth currently sits at $695,000, at a current rate of 16.03% annual growth. The median weekly rent is $550.
Hawera is the largest town in South Taranaki. It has the Fonterra processing facility nearby, which supports a myriad of jobs. The town itself is a growing community on the main road between New Plymouth and Wellington (via Whanganui).
Hawera has a great median home value that currently sits at $535,000 with 24.71% annual growth. The median weekly rent is $460.
Known as the heart of South Taranaki, Stratford is the only town in the Stratford district. Surrounded by some of the best farming in New Zealand, it has a prominent rural feel and community. Stratford is also home to a wide range of sports and recreational activities.
Stratford has a great median home value currently sitting at $550,000, with 20.9% annual growth. The median weekly rent is $450.
Ōakura is a very popular coastal suburb 15km south of central New Plymouth. It has stunning views, fantastic surf, and some great little cafes and eateries. With an array of both luxury and family homes, Ōakura is a very desirable suburb.
The sought-after reputation and luxury homes are reflected in Ōakura's higher median price point of $1,105,250. The median weekly rent is $620.
Approximately 16km northeast of central New Plymouth sits Waitara, a residential suburb with a strong sense of community and a coastal feel. Waitara has many parks and reserves, so it is a wonderful area for families to enjoy plenty of recreational outdoor activities.
Waitara has a median home value of $479,000 with an annual growth rate of 12.18%. The median weekly rent is $475.
This delightful coastal town remains untouched by the expansion and hurried growth of Taranaki. Ōpunakē offers a relaxed lifestyle and is home to one of the most popular beaches and swimming spots on this side of the coast, plus the best fish and chips too!
Ōpunakē boasts an affordable median home value of $492,000 at a current rate of 12.59% annual growth. 34.97% of residents live in rental accommodation.
How to ensure you have reliable tenants?
Everyone wants to have the best tenants — you want to know that your investment property will be looked after, so here are a few simple things you can do to help. For more tips and expert advice head to our blog.
1. Understand your legal obligations
In New Zealand, Tenancy Services is the governing body where you can find information relating to your rights and responsibilities as a landlord, tenant, or title owner. Understanding your legal obligations as a landlord early on will help avoid any unnecessary tenancy tribunal disputes or complications down the line.
2. Ensure you have landlord insurance
Tailored specifically for investors, landlord insurance protects your investment property from any damage or loss of rent due to an event that was outside of your control. Be sure to seek out professional advice on what the best insurance is to ensure maximum protection.
3. Professional property management
Managing an investment property can seem very overwhelming, especially if you are a first-time investor. This is where property management services can help — we take care of everything from finding suitable tenants, to monitoring property maintenance through regular inspections, resolving any issues, and financial management.