Bay of Plenty Times
  • Bay of Plenty Times home
  • Latest news
  • Business
  • Opinion
  • Lifestyle
  • Property
  • Sport
  • Video
  • Death notices
  • Classifieds

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • On The Up
  • Business
  • Opinion
  • Lifestyle
  • Property
    • All Property
    • Residential property listings
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
  • Sport

Locations

  • Coromandel & Hauraki
  • Katikati
  • Tauranga
  • Mount Maunganui
  • Pāpāmoa
  • Te Puke
  • Whakatāne
  • Rotorua

Media

  • Video
  • Photo galleries
  • Today's Paper - E-Editions
  • Photo sales
  • Classifieds

Weather

  • Thames
  • Tauranga
  • Whakatāne
  • Rotorua

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Bay of Plenty Times

Bay house prices rise 6.2pc in year

By Cassandra Mason and Ruth Keber
Bay of Plenty Times·
8 Jul, 2014 03:26 AM3 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

Ross Stanway

Ross Stanway

Property values continue to climb in the wider Western Bay of Plenty, with Tauranga now 6 per cent below the 2007 market peak, new figures reveal.

Western Bay of Plenty house values rose 6.2 per cent in the year to June, reaching an average value of $415,877, while Tauranga values rose 5.5 per cent to $452,431, according to state valuer Quotable Value.

Nationally, values increased 8 per cent in the year to June to $476,346, up 15 per cent on the 2007 peak.

Higher end properties had also seen a jump in activity as more people moved to Tauranga from the bigger cities.

Realty Services chief executive Ross Stanway said the rise was a long time coming.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

"The last two to three years there has been a steady price increase of 3-4 per cent, so a rise of 6 per cent is just a continuation of what has been in train for the last three years."

However, Mr Stanway said the rise was still well behind the price increases which have been reported in Auckland and Christchurch.

There was a still a shortage of homes in the region, which would be adding to the price increases, he said.

Advertisement
Advertise with NZME.

New commercial developments would also be adding to the rise in Tauranga and the Western Bay.

"There is some real investment starting to come on stream in the commercial sector, and that brings with it interest in our residential sector because a lot of people who are involved with those projects come and live here as well," he said.

Tauranga Harcourts franchise owner Max Martin said the lower priced houses in the region were not selling because of the higher deposit required.

"The reason property values are rising is because the lows ones are not selling to first home buyers and that pushes the medium price up, so it appears the prices are increasing."

Discover more

City house prices leap 5.6pc in a year

07 Aug 10:00 PM

However, Mr Martin said there was still a lot of confidences in the $600,000 to $900,000 market.

"There are a quite a few sales in that area but overall the prices haven't risen," he said.

LJ Hooker Bay of Plenty franchise owner Neville Falconer said a 5.5 per cent increase was slightly more than he would have expected in Tauranga.

"There's certainly been a small change in the pricing, especially in the value range in the lower to middle end of the market."

Increases were most notable in the $350,000 to $450,000 range, he said. "Because the listings are short at the moment, people are looking across all areas, and looking to find a good property that is structurally sound and doesn't have weather-tight issues."

Save

    Share this article

Latest from Bay of Plenty Times

Bay of Plenty Times

Pedestrian hit by car in Tauranga

01 Jul 12:10 AM
Bay of Plenty Times

Compliance concern: Growers oppose proposed geothermal water regulations

01 Jul 12:00 AM
Bay of Plenty Times

Fresh weather warnings issued for BoP

30 Jun 11:29 PM

There’s more to Hawai‘i than beaches and buffets – here’s how to see it differently

sponsored
Advertisement
Advertise with NZME.

Latest from Bay of Plenty Times

Pedestrian hit by car in Tauranga

Pedestrian hit by car in Tauranga

01 Jul 12:10 AM

The incident occurred about 10.45am, prompting emergency services to respond.

Compliance concern: Growers oppose proposed geothermal water regulations

Compliance concern: Growers oppose proposed geothermal water regulations

01 Jul 12:00 AM
Fresh weather warnings issued for BoP

Fresh weather warnings issued for BoP

30 Jun 11:29 PM
'Where I needed to be': US high school the right move for Kiwi basketballer

'Where I needed to be': US high school the right move for Kiwi basketballer

30 Jun 10:00 PM
From early mornings to easy living
sponsored

From early mornings to easy living

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • Bay of Plenty Times e-edition
  • Manage your print subscription
  • Manage your digital subscription
  • Subscribe to Herald Premium
  • Subscribe to the Bay of Plenty Times
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • Bay of Plenty Times
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP