Auckland's average house price surges over NZ$1m mark in August
Record immigration, low interest rates and supply shortage are driving city's housing market
Auckland
THE average house price in Auckland, New Zealand's largest city, has surged above NZ$1 million (S$994,525) for the first time.
The price for the Auckland area, home to a third of New Zealand's population, jumped 16 per cent in August from a year earlier and 6.1 per cent in the last three months to NZ$1.01 million, according to data published on Tuesday by government property research agency Quotable Value. The city's average price has risen 86 per cent since 2007.
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