The bubbling Auckland housing market is driving property prices up in the regions, although most are still well away from returning to prices seen during the 2007 market peak.
Many Aucklanders are leaving the Super City to buy their first home in cheaper areas.
Property owners, having seen their homes rise in value by 20 per cent during the past 12 months, are cashing up to be mortgage-free. Hamilton and Tauranga seem to be the top destinations, and there are signs sellers in these areas are ditching traditional fixed-price sales for auctions.
According to the latest figures from QV, One Tree Point in Whangarei has seen property values rise 5.2 per cent during the 12 months to June, with average selling prices sitting at $508,000.
In 2013 the average price was $465,250.