House values continue to rise throughout the Western Bay as interest rates remain low and inquiries from Aucklanders remain high.
In Tauranga, the average value last month was $493,054 - 2.4 per cent above the 2007 market peak and up 8.6 per cent year-on-year.
In the Western Bay, values jumped 7.2 per cent to an average of $441,642.
Ross Stanway, chief executive of EVES and Bayleys Real Estate, said property values had been increasing every month for quite some time pushed up by two main factors.
"The normal supply and demand - there's not a lot of property on the market but that is slowly changing. The other thing is, without a doubt, the interest from buyers outside the region, not just from Auckland."
Mr Stanway said the market had attracted local investors but agents were also seeing interest from Aucklanders who planned to move to the region and were buying properties and renting them out until they were ready to move.
There was a lot of interest from Aucklanders in Mount Maunganui, stretching back towards Concord Ave, Carysfort St and Paterson St.
About 80 per cent of the properties sold fell in the $350,000 to $600,000 range.
Mr Stanway said low interest rates meant some people could now afford the sort of house they wanted but would not have been able to afford a year ago.
By Amy Wiggins - Bay of Plenty Times
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