Tauranga's residential housing stock is now worth $34 billion after "extreme" growth of 63 per cent over the past three years according to new figures.
That's up from $21 billion in 2015, a report from the Property Institute of New Zealand and property market data company Valocity released today says.
The report measured the combined value of residential housing stock in New Zealand and its main centres.
Institute chief executive Ashley Church said the impact of growth around the country had been "uneven".
"Tauranga is at one extreme with growth of 63.27 per cent and Christchurch at the other extreme with growth of just 11.6 per cent over the 3 years."
The most valuable suburb in Tauranga was Bethlehem with a median value of $771k.
The most reasonably priced suburb in Tauranga is Gate Pa with a median value of $445k.
Matapihi had the biggest movement, increasing in value by 68 per cent between 2015 and 2018.
Meanwhile Tauranga South had the smallest movement but still increased by nearly half - 49 per cent.
Main centres comparison
- Tauranga is now worth over $34 billion (up from around $21 billion in 2015)
- Auckland is now worth $469 billion (up from $344 billion in 2015)
- Wellington is now worth over $88 billion (up from around $60 billion in 2015)
- Christchurch is now worth over $67 billion (up from around $60 billion in 2015)
- Hamilton is now worth around $28 billion (up from around $18 billion in 2015)
- Dunedin is now worth almost $17 billion (up from around $12 billion in 2015)