Average home values across the country rose by 11.3% in the 12 months to August and 20.4% in Auckland, according to the latest figures from Quotable Value (QV).
That pushed the average home's value nationwide to $534,331, while in Auckland it surged to $874,851.
"Values in Auckland continue to rise rapidly at the fastest rate since mid-2004 with the market there continuing to be driven by high net migration and lack of supply," QV national spokesperson Andrea Rush said.
Within the Auckland region the biggest rise in average values was in Papakura where they rose by 25.5% in the year to August, followed by north west Manukau at 24.9% and central Manukau at 24.6%. (For full regional and district values see chart below).
"The upward trend in values seen in upper North Island centres near Auckland is also continuing, with the Hamilton market now accelerating and values in Tauranga, Whangarei, Hastings and the Hauraki District continuing to rise.
"The new rules set to come in over the next couple of months requiring a 30% deposit for investment property in the Auckland region and a softening of the LVR rules for the regions may also be a factor incentivising this activity," she said.
In Hamilton the average dwelling value was $400,811 in August, up 10.3% compared to a year earlier and in Tauranga it was $493,054, up 8.6% compared to a year earlier. However the Wellington and Christchurch markets remain relatively flat, with the Wellington region's average value up just 2.4% for the year to $546,914 in August, while in Christchurch it rose 3.1% for the year to $476,317.
See below for the average housing values in all parts of the country and their movement over the last 12 months and interactive graphs showing the movement of average values in all regions since June 1974.
QV House Price Index August 2015 |
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| Territorial authority | Average current value | 12 month change % | 3 month change % |
| Auckland Region | 874,851 | 20.40% | 5.6% |
| Wellington Region | 457,266 | 1.70% | -0.1% |
| Main Urban Areas | 637,912 | 13.90% | 4.4% |
| Total NZ | 534,331 | 11.30% | 3.9% |
| Far North | 318,869 | 6.10% | 5.1% |
| Whangarei | 353,402 | 4.60% | 1.0% |
| Kaipara | 363,663 | 9.90% | 6.0% |
| Auckland - Rodney | 752,114 | 9.70% | 4.2% |
| Rodney - Hibiscus Coast | 742,137 | 8.40% | 3.9% |
| Rodney - North | 763,926 | 10.80% | 4.5% |
| Auckland - North Shore | 1,030,064 | 20.10% | 5.8% |
| North Shore - Coastal | 1,174,413 | 18.40% | 5.5% |
| North Shore - Onewa | 845,538 | 24.60% | 7.2% |
| North Shore - North Harbour | 979,487 | 18.30% | 4.9% |
| Auckland - Waitakere | 703,242 | 23.90% | 7.1% |
| Auckland - City | 1,032,460 | 20.40% | 4.1% |
| Auckland City - Central | 889,787 | 17.30% | 3.9% |
| Auckland_City - East | 1,282,105 | 19.90% | 3.3% |
| Auckland City - South | 945,957 | 23.50% | 5.0% |
| Auckland City - Islands | 873,774 | 12.10% | 4.6% |
| Auckland - Manukau | 738,037 | 22.00% | 7.1% |
| Manukau - East | 956,068 | 18.70% | 5.6% |
| Manukau - Central | 575,372 | 24.60% | 9.8% |
| Manukau - North West | 620,426 | 24.90% | 7.6% |
| Auckland - Papakura | 546,791 | 25.50% | 8.0% |
| Auckland - Franklin | 546,187 | 16.60% | 6.6% |
| Thames Coromandel | 526,962 | 4.30% | 1.0% |
| Hauraki | 263,593 | 16.00% | 2.8% |
| Waikato | 309,819 | 9.00% | 3.8% |
| Matamata Piako | 286,896 | 2.30% | 1.0% |
| Hamilton | 400,811 | 10.30% | 5.7% |
| Hamilton - North East | 508,304 | 10.80% | 5.6% |
| Hamilton - Central & North West | 373,562 | 10.10% | 5.6% |
| Hamilton - South East | 368,178 | 10.70% | 6.2% |
| Hamilton - South West | 352,986 | 10.60% | 6.3% |
| Waipa | 362,249 | 6.60% | 1.5% |
| Otorohanga | N/A | N/A | N/A |
| South Waikato | 134,552 | 6.50% | 4.0% |
| Waitomo | N/A | N/A | N/A |
| Taupo | 353,748 | 6.20% | 2.5% |
| Western BOP | 441,642 | 7.20% | 4.0% |
| Tauranga | 493,054 | 8.60% | 2.6% |
| Rotorua | 273,754 | 0.90% | -1.1% |
| Whakatane | 299,398 | 1.50% | -0.1% |
| Kawerau | 101,670 | -6.10% | -2.0% |
| Opotiki | 203,767 | -6.60% | -3.4% |
| Gisborne | 229,039 | -0.80% | 1.6% |
| Wairoa | 141,757 | -5.20% | -5.2% |
| Hastings | 312,185 | 5.90% | 1.7% |
| Napier | 332,720 | 2.40% | 1.2% |
| Central Hawkes Bay | 204,394 | -3.40% | -5.7% |
| New Plymouth | 361,993 | 3.60% | 0.9% |
| Stratford | 201,891 | -0.80% | -2.0% |
| South Taranaki | 183,734 | 2.20% | 0.1% |
| Ruapehu | 127,588 | -6.70% | -6.0% |
| Wanganui | 181,207 | 1.60% | -0.6% |
| Rangitikei | 141,893 | -1.90% | 0.0% |
| Manawatu | 244,562 | 1.40% | 1.3% |
| Palmerston North | 294,294 | 3.60% | 1.3% |
| Tararua | 149,455 | 0.60% | -2.2% |
| Horowhenua | 207,073 | 2.30% | -0.6% |
| Kapiti Coast | 382,257 | 2.60% | 0.4% |
| Porirua | 380,751 | 2.10% | -0.4% |
| Upper Hutt | 334,954 | -0.20% | -0.7% |
| Hutt | 373,074 | 1.30% | -0.8% |
| Wellington | 546,914 | 2.40% | 0.3% |
| Wellington - Central & South | 554,268 | 2.00% | 0.3% |
| Wellington - East | 593,768 | 3.30% | 0.5% |
| Wellington - North | 481,129 | 2.10% | 1.1% |
| Wellington - West | 626,611 | 3.30% | -0.3% |
| Masterton | 233,416 | -2.70% | -4.1% |
| Carterton | 271,064 | 1.10% | 2.0% |
| South Wairarapa | 301,264 | -1.80% | -1.5% |
| Tasman | 424,510 | 2.90% | 0.8% |
| Nelson | 415,682 | 3.20% | 0.8% |
| Marlborough | 353,157 | 1.90% | -0.2% |
| Kaikoura | N/A | N/A | N/A |
| Buller | 191,486 | -7.60% | -8.3% |
| Grey | 221,101 | 3.00% | 2.5% |
| Westland | 234,359 | 1.00% | 3.8% |
| Hurunui | 356,025 | 4.00% | 2.1% |
| Waimakariri | 417,430 | 3.00% | 0.4% |
| Christchurch | 476,317 | 3.10% | 0.4% |
| Christchurch - East | 361,162 | 5.00% | 1.6% |
| Christchurch - Hills | 641,937 | 3.00% | -1.0% |
| Christchurch - Central & North | 557,121 | 3.00% | 0.2% |
| Christchurch - Southwest | 454,205 | 2.40% | 0.2% |
| Christchurch - Banks Peninsula | 490,844 | 2.00% | 1.3% |
| Selwyn | 516,716 | 2.20% | -0.7% |
| Ashburton | 327,010 | 3.60% | -0.4% |
| Timaru | 307,866 | 9.20% | 2.3% |
| MacKenzie | 304,367 | 7.20% | -0.9% |
| Waimate | 198,610 | 1.20% | -4.9% |
| Waitaki | 229,153 | 4.20% | 0.7% |
| Central Otago | 331,673 | 2.10% | 1.6% |
| Queenstown Lakes | 731,093 | 9.50% | 1.9% |
| Dunedin | 299,508 | 3.70% | 2.1% |
| Dunedin - Central & North | 310,933 | 4.80% | 2.8% |
| Dunedin - Peninsular & Coastal | 275,543 | 3.90% | 0.5% |
| Dunedin - South | 284,394 | 1.60% | 1.8% |
| Dunedin - Taieri | 309,753 | 3.50% | 1.4% |
| Clutha | 165,313 | -0.50% | -1.8% |
| Southland | 213,474 | 3.80% | 1.4% |
| Gore | 186,950 | 0.40% | 2.9% |
| Invercargill | 207,960 | 1.30% | -0.2% |
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