Property prices have dropped in the Western Bay of Plenty with a significant decrease in the median price of Tauranga homes - some $30,000.
The latest Real Estate Institute of New Zealand figures show that in May the median property price in Tauranga was $340,000, down from $370,000 in April.

There were 97 sales in Tauranga in each month.
Prices dropped in the rest of the Western Bay of Plenty too, with the median price in Mount Maunganui and Papamoa down to $390,000 from $412,500 in April and for the rural areas it was down to $387,000 from $392,500.
The number of sales in Western Bay of Plenty country was fairly static with 47 sales in May compared to 44 in April.
There was a sharp drop in Mount Maunganui and Papamoa sales though, with 57 sales recorded in May compared to 70 in April.
These decreases place the Western Bay of Plenty close to or above the national average for median property price.
Nationally the median residential property price eased back to $350,000 in May from $356,000 in April.
REINZ president Peter McDonald says that these figures are reason for confidence.
"While slightly down on the April figure and the March median of $360,000, the May median is still 3.7 per cent up on the median price of $337,500 in the same month in 2009, so we are still not seeing any significant fall in property values," says Peter.
"With tax changes and interest rates now settled, property investors are already talking about returning to the market to cater for the growing demand for domestic rentals."