The balance of power in the Hawke's Bay property market has officially shifted.

After a 10-year run at the top, Napier's median property price has been overtaken by Hastings, new OneRoof property statistics show.

The statistics, produced by Valocity, show Hastings' median property price cracked the half-million mark in September and now sits at $506,000.

Napier's median price, in contrast, sits at $490,000.

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Tremains Hawke's Bay sales manager Stuart Christensen said the gap had been firmly in Napier's favour for quite some time, driven by the fact there were so few homes in the city for first-home buyers.

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