Home values have edged lower across the Bay of Plenty over the past three months, but Tauranga remains one of the more resilient housing markets in the North Island, according to the latest QV House Price Index.

The figures show Tauranga’s average home value fell just 0.3% during the three months to the end of August, bringing the average value to $1,049,067. Despite the quarterly decline, values remain 1.5% higher than at the start of the year and 2.3% above the same time in 2025.

Across New Zealand, property values dropped 1.9% over the quarter, marking the largest quarterly decline in two years as buyers continued to hold the upper hand in the market.

Local QV registered valuer Damian Hall said Bay of Plenty housing values continued to fluctuate from month to month, but the region was faring better than many other parts of the country.

“House values continue to ebb and flow across the region from month to month,” Hall said.

“Activity at the entry level remains strong, particularly among first-home buyers looking at properties up to $800,000. At the other end of the market, properties over $1.1 million are generally taking a little longer to sell.”

Rotorua also recorded a quarterly decline, with average home values falling 1.9% to $672,961. However, it remains the only other major centre in the Bay of Plenty where values are still slightly higher than a year ago.

Hall said Tauranga appeared to be holding up relatively well despite ongoing weakness in many housing markets elsewhere.

“The Bay of Plenty, and Tauranga in particular, appears to be holding up relatively well compared with many other parts of the North Island.”

Pāpāmoa remained one of the region’s standout performers, with strong buyer demand for modern homes helping properties sell quickly.

“Properties in Papamoa are getting snapped up pretty quickly, with modern housing stock proving particularly appealing to buyers,” Hall said.

He said the proposed Pāpāmoa East toll road and new on/off ramp were also generating significant local discussion, particularly among residents concerned about potential impacts on The Sands retail area.

The project is expected to move forward late this year or early next year despite local opposition petitions.

The QV House Price Index for August. Image / QV

Nationally, QV spokesperson Simon Petersen said buyers remained firmly in control heading into spring, with plentiful housing stock and cautious purchasing behaviour continuing to place downward pressure on prices.

“Buyers have plenty of choice, they’re taking their sweet time, they’re negotiating hard, and they’re prepared to walk away if the numbers don’t stack up,” Petersen said.

While spring traditionally brings more listings and increased market activity, Petersen said vendors could face even greater competition for a limited pool of buyers unless confidence improves.

The national average home value now sits at $894,977, down 1.7% since the start of the year and 1.3% lower than a year ago.