Ross Stanway, chief executive of Eves and Bayleys Real Estate, said the suburbs increasing in value the fastest represented two quite different markets.
"If you look at the Mount there are some very specific areas of the Mount that would be contributing to those price increase. There's that area between Tay St and Bayfair.
"There's a big block of streets in there that are selling at prices people would not have imagined even 12 months ago.
"There have been some significant sales there of late, which has set new benchmarks."
Mr Stanway said the appeal was the proximity to the beach and good solid homes which were sometimes still on full sites.
Parts of Tauranga South and Parkvale were another story, he said.
"For a long time properties in those sorts of suburbs have been in the lower price range.
"They've been recognised as really good value for money," he said.
"They are undergoing an evolution and quite a positive one. People are snapping up those properties and adding value to them.
"Once you get a few of those on a street that sets the tone for the street."
Mr Stanway said Mount Maunganui had long been one of the most expensive areas but it was heartening to see other suburbs making the list of most expensive areas.
"That's just a symptom in a way of the awareness and attractiveness people are seeing in the Bay of Plenty now.
"It's as if this year a big switch is being flicked on in terms of what is available here in terms or property and lifestyle ... our part of New Zealand is now being really sought after."
Tauranga Harcourts managing director Simon Martin said the limited land available in Mount Maunganui was pushing the prices up as well as location.
"We've got a big strip of beach front property in probably the best beach in New Zealand so that pushes up the average sale price."
In other areas such as Parkvale, Tauranga South and Greerton investors were the driver behind the price increase, he said.
"There has been quite a big investor focus in Tauranga. Your returns are going to be better on the properties that are cheaper."
Higher prices were forcing buyers on a budget to compromise on either area or size which was pushing prices up in some of the traditionally less popular suburbs, Mr Martin said.
"Some of those areas are starting to improve in value and people are having to look into them."
Anton Jones, of First National, said the Omokoroa market was "very strong" .
"There's a lot of sections being sold at the moment. We've done about 15 in the last two months," he said.
He said agents were still seeing a lot of interest both in Omokoroa and in Tauranga although he had noticed fewer Auckland investors recently.
"I think that's a short-term thing," he said.
"I think Tauranga's really been put on the map in this round of the cycle. A lot of Aucklanders are still coming to settle here."
Location, location
The Cachemaille family moved from Papamoa to Tauranga South about three years ago and have never looked back.
"In this area you're so central to things. There are beautiful grounds and it's a nice area," Jill Cachemaille said.
Mrs Cachemaille and her husband Simon made the decision to move because their two children went to St Mary's School at the time and the travel back and forward between school, home and after-school activities was becoming too much. They now live in Grace Ave and love the convenience.
It was also a great neighbourhood to live in, she said.
"We've got great neighbours. We've got some younger families in the neighbourhood and some elderly people. It's a really, really lovely neighbourhood," she said.
5 most expensive suburbs
Mount Maunganui - $627,800
Matua - $598,150
Waihi Beach - $578,450
Omokoroa - $563,200
Bethlehem - $559,300
* Based on average property values in October 2015, supplied by QV
5 cheapest suburbs
Te Puke - $306,850
Parkvale - $307,850
Gate Pa - $314,350
Greerton - $363,400
Judea - $364,350
* Based on average property values in October 2015, supplied by QV
5 fastest-rising suburbs
Tauranga South - 15.9%
Parkvale - 15.7%
Bellevue - 15.3%
Greerton - 15.2%
Mount Maunganui - 15.1%
* E-Valuer price change in year to 30 September 2015, supplied by QV
