Property Market
5 min read
What's happening with Western Bay of Plenty house prices?
Council area of Bay of Plenty
Author: Ed McKnight
Resident Economist, with a GradDipEcon and over five years at Opes Partners, is a trusted contributor to NZ Property Investor, Informed Investor, Stuff, Business Desk, and OneRoof.
Reviewed by: Laine Moger
Journalist and Property Educator with six years of experience, holds a Bachelor of Communication (Honours) from Massey University.
What's happening to Western Bay of Plenty house prices?
The average price of a Western Bay of Plenty property is $987,585 (QV, January 2026).
Western Bay of Plenty house prices are up 0.54% over the last three months (REINZ). And they are 0.00% up over the last 12 months.
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Quick Facts
- The average price of a Western Bay of Plenty property is $987,585 (QV, January 2026)
- Over the last 3 months property prices in Western Bay of Plenty have gone up 0.54%
- Western Bay of Plenty property prices increased 4.46% per year (on average) in the 20 years between February 2006 - February 2026 (REINZ)
- The average rent in Western Bay of Plenty is $630 per week (Tenancy Services, January 2026)
How are Western Bay of Plenty property prices changing?
Western Bay of Plenty house prices soared after the Covid-19 pandemic began. House prices started out 36% below the eventual peak of the market.
However, after that peak in February 2022, house prices fell 18.81% before bottoming out in October 2024.
Today, Western Bay of Plenty house prices are down 13.94% compared to their peak. That means prices have risen 5.99% since the bottom of the market.
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Where is Western Bay of Plenty in its property cycle?
At the absolute bottom of its property cycle, Western Bay of Plenty was 19.72% undervalued.
Today, property prices in Western Bay of Plenty are overvalued 10.26%.
That suggests there is a selling opportunity in Western Bay of Plenty.
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Western Bay of Plenty suburb prices
I track the value of 10 suburbs in Western Bay of Plenty. The most expensive suburb is Omokoroa, which has an average house value of $1,065,600. While the most affordable suburb is Te Puke, which has an average house value of $734,900.
Over the last 24 months of all Western Bay of Plenty suburbs (January 2024 - January 2026, Paengaroa had the fastest-growing house prices. They have gone up 3.63% over that period.
The suburb that fell the fastest over that period was Aongatete. Property values in this suburb fell by 3.75% over those 2 years.
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What is the Western Bay of Plenty rental market like?
Here's how rents are changing in Western Bay of Plenty. Over the last four years (January 2022 - January 2026) the median rent has gone up $105 a week. That's 4.66% a year (on average).
Over the last 12 months, rents have gone down. They are down 3.08% ($20 a week) year on year.
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Are properties selling above or below CV in Western Bay of Plenty?
One of the most common questions I get asked is: 'Ed, are properties selling above or below their Capital Value (CV)?'
Some call it the RV (Rateable Value) or GV (Government Value).
Why do people care? Well, if you go on TradeMe (or another website), you’ll almost always see the council’s valuation for the property. So even if the seller hasn't advertised a price, you can get a feel for what the property might sell for.
This table shows whether the average property is selling above or below CV across Bay of Plenty.
The area in Bay of Plenty selling the highest vs CV is Tauranga City where house prices are current selling 6% above CV.
The area in Bay of Plenty selling the lowest vs CV is Kawerau District where house prices are selling 6% below CV.
Other property markets to look into
If you found this article useful, then you might also like our analyses on the other property markets in New Zealand. You can read all about the Bay of Plenty property market here.
Current Property Listings
This property market information is for your general information. It’s not financial advice. See here for details about our Financial Advice Provider Disclosure. So Opes isn’t telling you what to do with your own money.
We’ve made every effort to make sure the information is accurate. But property markets change, and we occasionally get the odd fact wrong. Make sure you do your own research or talk to a financial adviser before making any investment decisions.
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