Million-dollar-plus property sales in the Bay of Plenty have jumped "significantly" in the last year, according to new figures.
The latest Real Estate Institute of New Zealand figures revealed sales of $1 million or above properties were up 29.9 per cent this May compared to 8.6 per cent in May last year.
REINZ regional director Neville Falconer said million-dollar-plus properties had "increased significantly", showing the underlying strength in the market.
The Bay of Plenty saw median house prices jump 32.3 per cent year-on-year in May to $820,000 from $620,000 a year before.
The Whakatāne District reached a new record median house price of $685,000 in
May 2021, up 39.5 per cent annually from $491,000.