The average national house value has increased 10.1% over the last year, according to Quotable Value.
QV says the average value of New Zealand's residential dwellings was $527,760 at the end of July which was up 4.1% compared to three months earlier.
In Auckland the average dwelling value increased by 5.7% to $855,672 in the three months to July, putting it 18.8% ahead of where it was 12 months ago.
QV said housing values in Auckland were continuing on a sharp upward trajectory in all areas and that average dwelling values on both the North Shore and Central Auckland (within the boundaries of the former Auckland City Council) were now above $1 million.
In Auckland Central the average value was $1,014,873 at the end of July which was up 20.1% compared to July last year, while on the North Shore the average value was $1,007,836, up 17.6% compared to a year earlier.
In Waitakere the average value of a home was $687,021, up 21.6% for the year, and in Manukau it was $715,919, up 19.6% for the year.
"There's still not enough existing stock or new homes being built to accommodate the demand for housing in Auckland," QV northern operations manager Jan O'Donoghue said.
"Investors and speculators continue to be very active across the super city, particularly in suburbs that offer the most affordable housing such as Mt Roskill, Massey, Te Atatu, New Lynn and Papakura.
"High numbers of apartments have also been selling off the plan in central Auckland as demand for more affordable homes reaches a crescendo."
However outside of Auckland, property values continue to rise at a much slower rate.
In Wellington City the average dwelling value was $546,481 which was only up 2% compared to a year earlier and in Christchurch the average value was $475,322, up 3.1% compared to year earlier.
However values in the Waikato and Bay of Plenty are also posting strong gains with average dwelling values in Hamilton up 7.4% for the year and Tauranga values up 7.7% for the year.
See the table below for QV's average values for homes throughout the country:
QV House Price Index - Three months to July 2015 |
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| Territorial Authority | Average current value $ | 12 month change% | 3 month change % | Since 2007 market peak change % |
| Far North | 312,903 | 5.4% | 3.7% | -21.4% |
| Whangarei | 351,837 | 5.0% | 2.1% | -11.2% |
| Kaipara | 366,908 | 8.5% | 7.3% | -7.5% |
| Auckland - Rodney | 740,977 | 9.3% | 3.9% | 26.3% |
| Rodney - Hibiscus Coast | 734,361 | 9.5% | 3.5% | 25.0% |
| Rodney - North | 748,808 | 8.9% | 4.4% | 24.7% |
| Auckland - North Shore | 1,007,836 | 17.6% | 6.2% | 56.2% |
| North Shore - Coastal | 1,148,505 | 15.9% | 6.1% | 52.4% |
| North Shore - Onewa | 823,563 | 21.1% | 6.7% | 66.0% |
| North Shore - North Harbour | 964,036 | 17.1% | 6.1% | 58.7% |
| Auckland - Waitakere | 687,021 | 21.6% | 7.3% | 62.0% |
| Auckland - City | 1,014,873 | 20.1% | 4.6% | 63.0% |
| Auckland City - Central | 873,702 | 16.9% | 3.9% | 53.4% |
| Auckland_City - East | 1,266,529 | 20.1% | 5.1% | 58.9% |
| Auckland City - South | 930,377 | 22.9% | 5.3% | 72.8% |
| Auckland City - Islands | 832,061 | 12.1% | -1.9% | 30.2% |
| Auckland - Manukau | 715,919 | 19.6% | 6.4% | 56.4% |
| Manukau - East | 931,586 | 16.2% | 5.2% | 56.3% |
| Manukau - Central | 554,633 | 21.8% | 8.7% | 47.5% |
| Manukau - North West | 600,481 | 22.7% | 6.7% | 62.5% |
| Auckland - Papakura | 527,214 | 22.2% | 7.7% | 46.5% |
| Auckland - Franklin | 532,965 | 14.6% | 6.5% | 34.7% |
| Thames Coromandel | 526,115 | 3.4% | 1.2% | -9.5% |
| Hauraki | 259,898 | 10.7% | 4.6% | -6.8% |
| Waikato | 305,152 | 6.6% | 3.5% | 0.8% |
| Matamata Piako | 285,146 | 2.3% | -1.0% | -2.3% |
| Hamilton | 390,113 | 7.4% | 3.8% | 7.9% |
| Hamilton - North East | 495,243 | 8.5% | 4.1% | 10.2% |
| Hamilton - Central & North West | 363,319 | 7.4% | 3.3% | 1.5% |
| Hamilton - South East | 357,521 | 7.0% | 3.8% | 2.3% |
| Hamilton - South West | 343,228 | 6.8% | 4.2% | 0.3% |
| Waipa | 361,285 | 5.9% | 1.2% | 9.8% |
| Otorohanga | 193,998 | -3.7% | -5.8% | -29.7% |
| South Waikato | 128,826 | 1.7% | 1.8% | -21.0% |
| Waitomo | N/A | N/A | N/A | N/A |
| Taupo | 347,652 | 1.6% | 0.6% | -13.2% |
| Western BOP | 434,438 | 5.9% | 3.3% | -3.6% |
| Tauranga | 489,734 | 7.7% | 3.0% | 1.7% |
| Rotorua | 271,414 | 0.3% | -1.6% | -7.6% |
| Whakatane | 302,958 | 2.8% | 2.7% | -12.9% |
| Kawerau | 101,977 | -3.5% | -1.0% | -36.0% |
| Opotiki | 200,829 | -4.3% | -4.9% | -29.4% |
| Gisborne | 226,887 | -1.2% | -0.5% | -23.7% |
| Wairoa | N/A | N/A | N/A | N/A |
| Hastings | 309,499 | 3.9% | 1.5% | -0.7% |
| Napier | 329,825 | 1.9% | -0.1% | -3.1% |
| Central Hawkes Bay | 207,457 | -1.5% | -5.0% | -21.7% |
| New Plymouth | 359,947 | 3.0% | 0.4% | 8.9% |
| Stratford | 198,914 | -2.0% | -1.6% | -9.0% |
| South Taranaki | 185,813 | 1.5% | 0.2% | -6.0% |
| Ruapehu | 128,375 | -5.7% | -1.3% | -28.8% |
| Wanganui | 181,330 | 1.9% | -0.1% | -19.1% |
| Rangitikei | 142,541 | -3.4% | 1.7% | -21.2% |
| Manawatu | 244,085 | 1.3% | 0.4% | -4.0% |
| Palmerston North | 292,977 | 2.8% | 1.1% | -1.8% |
| Tararua | 152,220 | 3.1% | -1.3% | -13.7% |
| Horowhenua | 208,027 | 1.0% | 1.2% | -12.5% |
| Kapiti Coast | 380,564 | 1.6% | 0.0% | -0.7% |
| Porirua | 381,991 | 1.5% | 0.0% | 0.0% |
| Upper Hutt | 337,397 | 1.2% | -0.5% | -4.0% |
| Hutt | 375,237 | 1.3% | -0.3% | -4.4% |
| Wellington | 546,481 | 2.0% | 0.2% | 2.6% |
| Wellington - Central & South | 552,253 | 1.0% | 0.5% | -1.4% |
| Wellington - East | 600,391 | 5.3% | 1.4% | 4.2% |
| Wellington - North | 479,051 | 1.5% | -0.3% | 2.8% |
| Wellington - West | 627,196 | 2.7% | 0.0% | 3.3% |
| Masterton | 238,364 | 1.0% | -1.7% | -16.6% |
| Carterton | 269,213 | 1.7% | 0.5% | -3.4% |
| South Wairarapa | 305,380 | 1.1% | 0.6% | -9.7% |
| Tasman | 422,913 | 2.2% | 1.3% | 5.3% |
| Nelson | 414,989 | 3.3% | 0.7% | 8.4% |
| Marlborough | 352,985 | 2.3% | 0.6% | -9.5% |
| Kaikoura | N/A | N/A | N/A | N/A |
| Buller | N/A | N/A | N/A | N/A |
| Grey | 215,313 | 1.2% | -2.8% | -11.9% |
| Westland | 229,386 | 0.7% | 1.4% | -4.5% |
| Hurunui | 349,889 | 4.3% | 2.9% | 11.9% |
| Waimakariri | 419,144 | 3.2% | 1.4% | 30.9% |
| Christchurch | 475,322 | 3.1% | 0.5% | 25.3% |
| Christchurch - East | 359,355 | 4.1% | 1.6% | 16.1% |
| Christchurch - Hills | 643,820 | 2.0% | 0.0% | 16.4% |
| Christchurch - Central & North | 555,575 | 3.1% | 0.4% | 25.5% |
| Christchurch - Southwest | 453,253 | 2.5% | 0.0% | 33.5% |
| Christchurch - Banks Peninsula | 496,472 | 5.5% | 1.9% | 3.3% |
| Selwyn | 516,040 | 2.1% | -0.9% | 38.4% |
| Ashburton | 326,941 | 1.7% | -0.5% | 16.8% |
| Timaru | 305,434 | 8.6% | 2.5% | 21.7% |
| MacKenzie | 305,363 | 8.8% | -2.8% | 6.6% |
| Waimate | 199,220 | 2.1% | -4.8% | 5.6% |
| Waitaki | 227,818 | 2.1% | 1.0% | -0.2% |
| Central Otago | 330,258 | 2.7% | 2.3% | 4.2% |
| Queenstown Lakes | 717,021 | 6.0% | 0.2% | 4.3% |
| Dunedin | 298,928 | 2.8% | 2.5% | 4.4% |
| Dunedin - Central & North | 310,929 | 3.8% | 2.8% | 3.1% |
| Dunedin - Peninsular & Coastal | 277,370 | 3.5% | 3.8% | 2.5% |
| Dunedin - South | 284,751 | 1.5% | 3.2% | -0.3% |
| Dunedin - Taieri | 306,900 | 2.4% | 0.8% | 4.4% |
| Clutha | 168,595 | 0.2% | 0.6% | -6.9% |
| Southland | 216,705 | 6.8% | 4.9% | -5.9% |
| Gore | 184,621 | 2.4% | 3.0% | 5.0% |
| Invercargill | 207,367 | -0.1% | -0.1% | -6.0% |
| Auckland Area | 855,672 | 18.8% | 5.7% | 56.6% |
| Wellington Area | 458,250 | 1.6% | 0.0% | 0.6% |
| Main Urban Areas | 628,722 | 12.6% | 4.7% | 36.9% |
| Total NZ | 527,760 | 10.1% | 4.1% | 27.4% |
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