Auckland's average house value will hit $1 million by next year and landlords are snapping up 46 per cent of the city's sales, a Quotable Value chief says. If the rate of growth increases as it is at the moment, we will have an average value of $1 million by 2017," Rush said. "The average value in Auckland now is $975,000 across the whole region. Hamilton values rose 29 per cent since last June and 6.9 per cent in the last three months to hit an average $492,403. Related Content Devonport house expected to fetch $9m Watch NZ Herald Focus: House values soarRush said national residential property values rose 13.5 per cent and the national average value was now $590,909.

Source: New Zealand Herald July 05, 2016 00:02 UTC