Tauranga house values jumped 1.6 per cent year-on-year but only 0.7 per cent in the past three months, according to new data.

The latest QV House Price Index showed the average value in the city was now $705,383.

The Western Bay of Plenty market rose 3.5 per cent year-on-year and 0.8 per cent over the past three months. The average value in the district was now $634,582.

Tauranga property consultant Steven Dunn says a recent low number of listings had meant that multi-offers and strong sales prices were being achieved in many cases.

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"We have seen an increase in investor activity and first home buyers are less active, which could be due to the lack of listings in the low-to-mid price bracket," he said.

"We're anticipating a lift in listings and sales volumes as we settle into spring over the coming month, so it'll be interesting to see what impact this has on value growth."