“This equals a rise in values over the past year of almost $130,000.
The average property value in Tauranga now exceeds $900,000 for the first time .
“This equates to a rise over the past year of more than $83,000. The sustained growth rate, which has now seen prices double in just five years, is putting pressure on prospective first home buyers, and as has been the case around the rest of NZ, mortgaged investors have been a rising presence – a 31 percent share of purchases in Dunedin in 2021 is their highest figure on record,” Goodall, said.