Tauranga's average home value now more than $570k

Tauranga City. Photo/file

Tauranga home values have soared once more, elevating the average value in the city to now $571,872.

The home values have risen 5.5 per cent over the past three months alone and 22.6 per cent year on year.

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Western Bay of Plenty home values also continued to see strong increases up 7.1 per cent since the beginning of January and 18.7 per cent year on year. The average value in the district is now $497,748.

QV homevalue Tauranga Registered Valuer David Hume said: "The Tauranga Market shows no signs of letting up with a large number of out of town buyers."

"Agents are reporting that in many instances sale prices are continuing to exceed both their and vendors expectations."

"There is a lot of activity in Omokoroa at present with a new twelve-lot subdivision at Kayelene Place recently selling out in two weeks at an average sales price of $295,000 for sections ranging from 750 - 900 square metres."