House prices in regional New Zealand are catching up with Auckland.

Latest OneRoof and Valocity figures show the national average property value has hit $1 million for the first time.

The typical cost of a property around the country increased almost five percent in the last three months and 27 percent since last September.

OneRoof commentator Ashley Church told Mike Hosking parts of the country outside Auckland are seeing high increases.

“It has been driven particularly by Gisborne, Manawatu, Hawke’s Bay, Bay of Plenty, and it’s also happening in Wellington.”

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