A new challenger's taking on Auckland in the race for the most expensive properties. 

Trade Me data shows the Bay of Plenty's average asking price has dethroned Auckland's for the first time in 10 years. 

It's sitting on $963,000 - $11,000 above Auckland. 

But Opes Partners economist Ed McKnight says that doesn't translate to higher sale values. 

"The median sale price of a house in Auckland is still about $150,000 more than over in the Bay of Plenty."

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