Auckland's average house price surges over NZ$1m mark in August

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.