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
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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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