Home values in Tauranga city have gone up a massive 22.3 per cent since February last year, according to QV.
In the last three months alone, values in the city have increased 7.4 per cent. The average value in the city is now $565,547.
Western Bay of Plenty home values also continued to accelerate rising 6.9 per cent over the past three months and 13.4 per cent year on year. The average value in the district is now $484,340.
... Everyone is now starting to ask the question: 'How long can this period of rapid house price increases be sustained?'
QV homevalue Tauranga registered valuer David Hume said, "the Bay of Plenty market continues to show no signs of slowing, with demand for properties far outstripping supply.