"There does appear to be a shortage of listings for mid-range properties, which is a sign that people are holding off selling until after winter," he said.
Dunn said buyers were taking their time when searching for a property and showing less willingness to negotiate on price, but a good portion of homes were selling after auction.
"First-home buyers, particularly those priced out of the Auckland market, remain active in the market," he said.
"As the local economy continues to diversify, job prospects and business opportunities also improve, which appeal to many who seek their first step onto the property ladder."
Dunn said the Western Bay of Plenty was also benefiting from a strong local economy, which was driving steady value growth.
"KatiKati and TePuke, in particular, is enjoying the benefits coming from a productive Kiwifruit trade," he said.
