When we bought our house about five years ago in Pāpāmoa East the market was on the cusp of a property boom.
At that time we had to make a nerve-wracking decision on whether to hold on and hope prices would ease off - or bite the bullet and buy.
There is no denying it was a hard slog saving the 20 per cent deposit and there were moments when we felt like we were chasing an impossible dream.
But the odds rolled in our favour when we found our home - even though it pushed our budget to the limit.
Our house ticked a lot of boxes it was in an established street in a suburb that was earmarked for future growth - which could since be described as an explosion.
We were walking distance to the beach, school, kindy and other amenities that have sprung up in recent years.
I never factored in capital gain because it wasn't on our radar. Our main motivation was to stop paying our landlord's mortgage.
Experts say the property market goes in cycles but I am quite alarmed to see this current cycle shows no signs of a downturn - despite Covid-19.
According to Core Logic Tauranga's average property value was now $876,122. Data shows home values in the city jumped a whopping $76,000 in the last three months of 2020.
Meanwhile, Rotorua's average property value was $595,638 and values had climbed nearly $50,000 in the last three months of 2020.
We were lucky to buy when we did and I doubt we would be able to afford our home in today's market.
Experts say ex-pats returning home are driving up prices while demand continues to outstrip supply in both cities.
First-home buyers are on the scene spurred on by low-interest rates, KiwiSaver and Government incentives.
But how long can this go on?
I feel for those who won't make it onto the property ladder and I feel for those first-home buyers who are carrying the burden of a hefty mortgage.
History shows New Zealand is not sheltered from the global economy and while we may continue to make hay while the sun shines we also need to be prepared if things take a drastic turn.