"The significant thing about the sales is, if you were to pick a source of buyers, it is definitely Auckland. The majority of our buyers have been ex-Auckland.
"The obvious thing about them is that they are looking for more family homes and looking at higher price ranges."
Mr Pepper said an increase in property values was partly due to buyers looking at the higher end of the property market.
"The obvious thing is that whilst you can look at the median sale prices and say they are up on the previous year, I don't believe it is a reflection of prices going up. It is more a reflection of buyers looking at higher price ranges.
"If you look at the average sale price for last month, it is definitely up on last month but that is just a reflection of where the buyers are looking and where they are coming from.
"We are selling more properties at the top end of the market and there is pressure on property prices to go up, it is a really good time to sell."
Mr Pepper said he expected the trend to continue this year.
Nationwide, residential property values for February 2015 increased 6.4 per cent over the past year and 3.1 per cent over the three months to February.
QV national spokesperson Andrea Rush said more couples were choosing to build rather than buy because it was easier to borrow money for a new build.
"The new build market across the country is in high demand, particularly amongst first home buyers, as the LVR requirement for a 20 per cent deposit does not apply to 'turn key' home and land packages, making it easier to secure finance," she said.
"The listings shortage appears to have eased a little as more homes have come on to the market during February, however sales and mortgage approvals are also up since January."
Residential property values picked up in most provincial centres but declined in Southland, the West Coast and in a few parts of the North Island.
