Matua is now Tauranga's most expensive suburb with Mount Maunganui coming a close second and Bethlehem dropping down to the third.
Bethlehem held the top spot in 2011 but slipped back behind Matua ($521,800) Mount Maunganui ($513,700) with an average price of $508,150, according to the latest QV report,
Matua, Mount Maunganui and the inner Avenues have traditionally been the top three suburbs in Tauranga, says Ray White Papamoa and Mount Maunganui principal Greg Purcell.
" Matua has always been a mix of really well-off retired people and well-to-do families. With the schools, it's always been sought after ," he said.
He was not surprised by rising prices in Matua and Otumoetai, which he described as the "backbone of Tauranga".