Detective Senior Sergeant Craig Hamilton, from the police's Waikato and Bay of Plenty Asset Recovery Unit, said there was a growing awareness of the consequences of the act among criminals.
"We're being proactive in this area of policing and we're taking property off bad guys. I think it's potentially the most effective tool we've got," he said.
Rotorua Sensible Sentencing Trust co-ordinator Peter Bentley, who was the victim of a violent home invasion, said he supported the act.
"Why should the criminal benefit from victimising others?"
He would like to see some of the seized funds go towards compensating victims or their families.
A Rotorua resident who didn't want to be identified said she had her home burgled three times in the past two years and agreed with Mr Bentley.
"A fund should be set up to help victims. Because of my home being burgled I've had to spend money on replacing locks and installing an alarm. These sorts of things cost and you end up feeling like a victim all over again.
"Then, there is my insurance, my premiums have gone up. It just feels like the victim ends up paying more than the criminal."
Police Financial Crime Group national manager Detective Superintendent Peter Devoy said police had proceedings across about $130 million worth of assets, and to date assets in excess of $30 million had been forfeited.
"I wouldn't go so far as to say it's a game-changer just yet but it has certainly given us realistic opportunities to address the assets and profits of crime."
The legislation was an improvement on the previous Proceeds of Crime Act, which limited police to asset forfeiture from criminal prosecutions.
Now, police can take civil proceedings against offenders, even when a criminal prosecution has failed.
"We have a gang leader in the Bay of Plenty and we have restrained in excess of $1 million worth of his property but he's not being charged with anything - we're taking civil proceedings against him."
However Mr Devoy said it was too early to say whether the act was a successful deterrent.
"When we take away their possessions, which quite often are their toys and also their assets, that's what is really affecting them."
The Ministry of Business, Innovation and Employment is responsible for administering the money collected by the sale of assets.