Property values in Tauranga have decreased 1.8 per cent over the past year, according to Quotable Value.
The figure was calculated by comparing the three months to September to the same period last year.
While the latest property values are still trending downward, the figures are an improvement from the 4.1 per cent annual decline reported in August.

The average value of a property in Tauranga is $402,880, down from $412,320 last year.
Bay of Plenty QV spokesperson Shayne Donovan-Grammer says the residential property market in Tauranga is starting to show signs of stabilising after a turbulent 12 to 18 months.
'Vacant land is starting to move again, although admittedly at fairly sharp prices.
Land sales should in turn give a bit of relief to the construction industry,” says Shayne.
He says the low to middle price bracket is still where the bulk of the activity is in Tauranga, but there is more interest now in the higher brackets, which he says has not been seen for quite some time.
Craig Hilton, manager at Eves Realty on Cameron Road, says the figures are a positive sign.
'If you measured property values six months ago, it would have been much higher than 1.8 per cent and that indicates a climb in value rather than a decrease,” says Craig.
He says the Tauranga property market is noticeably more active compared to this time last year.
'There's a good feeling out there that we are on the road to recovery. There's been a long enough positive trend in the market to show we are on the way up, not on the way down.
We are also noticing a lift and then a plateau, rather than values dropping again,” says Craig.