Residential property values in Tauranga last month had risen 15.5 per cent since November 2014 and 6.6 per cent over the past three months with values now 9.2 per cent higher than the previous peak of 2007.
Western Bay of Plenty home values have also continued to show solid increases rising 7.3 per cent year on year and 2.6 per cent over the past three months.
Values in the district have now ticked over levels seen in 2007 and are 0.5 per cent higher than the previous peak.
Tauranga QV homevalue registered valuer David Hume said, "overall it's been a very strong year for the Bay of Plenty property market, with most Tauranga suburbs witnessing exponential growth over the past six to nine months.
"It appears some of the heat has come out of the market, with auction rooms not receiving the record clearance rates witnessed over the past few months, although vendors with reasonable expectations are quickly negotiating a sale post auction.
"Arataki is continuing to prove very popular with locals and out of town buyers who have been priced out of the Mount Maunganui market.
"The announced commencement of the Bayfair to Baypark link before Christmas is welcome news to locals, particularly for Papamoa residents commuting to Tauranga, who have to navigate heavy congestion during peak times.
"The new infrastructure will include two flyovers which are scheduled to be open to the public by 2020, not long after the completion of the Maungatapu underpass."