UPDATED 4.45PM The average house value in Auckland has tipped over the one million dollar mark.

The latest QV report shows the Auckland market increased almost 16 per cent year on year.

Spokeswoman Andrea Rush said the strong value growth continued over the past three months rising over six percent.

"It now means that the average value of a property, if you take it across all the suburbs in the Super City region, is now $1,013,632."

However, Prime Minister John Key said you can still buy a property in our biggest city for much less than that.

"There's a significant number of properties sold under $650,000 or $600,000. We know that in the last 12 months alone, 37 per cent of all sales in Auckland were under $650,000."

Mr Key's been asked today if he thinks average Auckland house prices will now ever fall below that mark.

He said markets do move around and go in both directions.

"Oh yeah, I mean look, it wouldn't worry me if they eased back a wee bit but I don't think house prices should halve."

Green co-leader Metiria Turei said Mr Key's legacy is a generation of young people locked out of million dollar houses in Auckland.

"Aucklanders wanting to buy their first home now have one million reasons to change the government," she said.

"National has shown time and time again they they're focused on helping their property speculator mates, not helping first home buyers."

Maori Party Co-leader Marama Fox said it doesn't matter that the annual increase in Auckland prices is lower than it's been previously.

"It's still out of reach. On percentage it's smaller but $1 million? Who's buying a $1 million home, I'm certainly not."

Labour's Andrew Little said the Government continues to sit on the sidelines saying it's someone else's problem.

"We have a comprehensive housing package which was about adding the supply, committed to building the workforce, getting the speculators out of the market. We can't just leave it to the Reserve Bank. This government is contracting out just about every significant policy, including now housing, to the Reserve Bank and it's just inadequate."

There has also been strong growth in house values in other regions especially Hamilton, Tauranga and Dunedin.

In Wellington, house prices are now growing faster than Auckland's.

The QV figures show home values in the region have risen by 17.2 per cent since last August.

The average house price across the region is now $536,000.

Both Lower Hutt and Upper Hutt house prices have risen 16.6 per cent over the past year.

QV homevalue General Manager David Nagel said new builds and off the plan purchasers have increased, with a number of new developments in Wellington being sold well before they're finished.

And a slight increase for house prices in Christchurch, but a shortage in the number of listings.

The figures have shown that the average home in Christchurch is now almost $493,000.

That's an increase of 3.5 per cent on this time last year.

In the Waimakariri district, the average house costs over $427,000, while the average value in the Selwyn District is up over $555,000.

Registered valuer Damian Kennedy said the new build and subdivision markets are seeing the most activity, while asking prices have stabilised in the area.

However, he said the number of listings is around 30 per cent lower than this time last year.