Fresh valuations of each and every Auckland property have today been released by Auckland Council, and property owners can expect a large jump in their capital.
Auckland houses (file picture).
To check your own property, or any address throughout Auckland, you can visit QV's website to see its estimated price as of 2017.
Last Friday, Auckland Council released the percentage jump of its three-yearly property valuations, showing the average value of all Auckland property had increased by 45 per cent since 2014.
With residential property specifically rising 46 per cent, home owners in general can expect a large jump in the price of their property.
The local board areas that had the highest price spike, all above 45 per cent, were: Waiheke, Ōtara-Papetoetoe, Papakura, Māngere-Ōtāhuhu, Manurewa, Henderson-Massey, Maungakiekie-Tāmaki, Franklin, Howick, Rodney and Upper Harbour.
All other local boards in Auckland still saw a price escalation though, between 11 and 44 per cent.
As of October 2017, QV valued the average house in the Auckland area at $1,038,722.
Auckland Council chief economist David Norman says the rise in residential property is indicative of three factors.
"First, Auckland's strong population growth over the last three years has not been matched by increases in the number of new houses being built, and this has pushed prices up," Mr Norman says.
"Second, record low interest rates have allowed people to bid up prices to secure somewhere to live because housing has been in short supply.
"And third, the Unitary Plan has added a lot of value to properties that can now carry higher intensity residential development than before."
Auckland Council says the largest movements in the outer suburbs appear to be a product of higher demand in areas where property is cheaper.