Rotorua's house values are continuing to rise - with values jumping 24.8 per cent in the past 12 months.

According to the QV House Price Index for July, released at midday, the average current value for a house in Rotorua is now $338,679. That is 9.2 per cent higher than three months ago, with values now sitting 15.3 per cent above the 2007 market peak.

QV national spokeswoman Andrea Rush said nationally values for July had increase 14.1 per cent over the past year.

"Values rose by 6.1% over the past three months and are now 45.4% above the previous market peak of late 2007. When adjusted for inflation the nationwide annual increase drops slightly to 13.7% and values are now 23.5% above the 2007 peak. The average value nationwide has now ticked over the $600,000s and is $602,434."