Quotable Value data out yesterday had Auckland values up more than 18% on a year ago and Queenstown Lakes and Central Otago up respectively 6% and 7%, but other regional areas were trailing.
Auckland's July average value is $855,672, but Auckland's North Shore, North Shore coastal, city and city east all now boast average values between $1million and $1.26million.
QV national spokesperson Andrea Rush said the ''super city region'' continued to see a sharp upward trajectory in the house price index, with home values up across all areas.
''Hot on the heels of the average value in the old Auckland City council region topping one million dollars last month, the average value in North Shore City has now also ticked over the milestone and is sitting at $1,007,836, with home values there up 17.6% year on year,'' she said in a statement.
QV's Dunedin registered valuer Duncan Jack said there was some anecdotal evidence of an increase in interest and inquiry from investors outside Otago, attracted by the relatively high rental yields available in some parts of the city.
Mr Jack said there was a general lack of listings throughout the city and across regional Otago, but buyers remained active and there was good interest for most properties.
Ms Rush said with net migration still at record highs, incentives for new migrants to move to areas outside Auckland and record low interest rates, continued upward pressure on home values was likely.
