The Tauranga property market remains flat with the latest QV residential property index showing values are steadily low.

This marginally opposes the national trend which showed overall values increased in the three month period ending June, with QV research director Jonno Ingerson indicating this was driven by the Auckland market.

The QV index for Tauranga.

'Nationwide property values increased in June after previously remaining relatively stable for several months,” says Jonno.

'The gap in values between June this year and last year has closed to only -0.9 percent, and values are now 5.2 percent below the market peak of late 2007.”

'Much of the gain in nationwide values can be attributed to increases in the Auckland area.

'Apart from a minor hiccup in March values have increased by over two percent in greater Auckland since January.”

Average sales prices of properties nationally over the three month period ending June also show a rallying market with the price increasing to $412,746 from $404,057 in the previous period.

In Tauranga the average sales price in the June period was $415,418, but QV Valuations' Shayne Donovan-Grammer says property values are 1.8 percent lower now than at the same time last year.

'The Tauranga property market continues to be subdued with a general lack of interest,” says Shayne.

'This, to some degree, is to be expected for this time of year – winter has never been the peak selling season.

'Section sales are slow and a few of the sales in this category have come through at lower than expected levels.

'Buyers are getting some good deals, mostly in situations where sellers who need to sell have to compromise more on the price than they initially expected.”