Takapuna outpaces Auckland with strong economic growth in 2024

Takapuna has outpaced both the Auckland city and the country in economic growth for 2024, according to the latest report from Infometrics.

The annual economic report, released last week, reveals that Takapuna’s economy expanded by 3.8 percent in 2024 – well ahead of Auckland’s 2.1 percent growth and nearly three times New Zealand’s national growth rate of 1.4 percent. This strong performance comes despite broader economic headwinds, including a cooling global economy and high interest rates, underscoring Takapuna’s resilience.

Driving this growth is Takapuna’s concentration of high-value service industries, which make up 56.9 percent of local businesses. These include IT, health, financial, and professional services, significantly higher than Auckland’s average of 32.4 percent.

“These figures confirm what many businesses and investors already know, Takapuna is one of New Zealand’s premier destinations for innovation and economic opportunity,” says Takapuna Beach Business Association Chief Executive Terence Harpur.

“As economic uncertainty continues on a global scale, Takapuna’s performance demonstrates the importance of a diversified, high-value economy in navigating challenges and delivering sustainable growth for businesses and residents alike.”

The suburb’s economic strength is further reflected in its employment growth. Job numbers in Takapuna climbed by 3.9 percent in 2024, surpassing Auckland’s 2.8 percent, reinforcing the area’s appeal to businesses and skilled professionals.

Takapuna’s retail sector also performed strongly during the Christmas period, bucking Auckland’s downward trend. While Auckland as a whole saw a 2.1 percent decline in retail spending, Takapuna’s retail spending climbed 3.1 percent in December 2024 compared to the previous year, with transaction numbers rising 4.3 percent over the same period.

“The greatest growth areas for retail spend in Takapuna were hospitality, which was up 4 percent for December 2024 compared to last year, apparent and personal was up nearly 6 percent, and liquor was up just over 8 percent,” Harpur says.

“These are very encouraging figures that reflect the continued growth of our unique location.”

Takapuna is home to more than 130 hospitality venues, with new openings continuing to enhance its reputation as a premier destination for dining and entertainment. The shopping precinct has also undergone significant improvements, including the new open-air high street on Hurstmere Road, a new town square, and a high-rise car park, offering easy access to more than 4,000 parking spaces.

“With strong economic fundamentals and a flourishing business environment, Takapuna is well-positioned for continued success in 2025 and beyond,” Harpur says.