House values in Rotorua have risen above the 2007 market peak, according to the latest QV statistics released at midday today.

The QV House Price Index for December 2015 shows the average current valuation of a house in Rotorua is $295,082, 9.3 per cent higher than last December and up 4.1 per cent from three months ago.

Average values now sit 0.5 per cent above the 2007 market peak.

Nationwide residential property values surged ahead in the year to December 2015 at a rate of more than 10 per cent faster than for the same period the previous year.