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Surprise region where house prices have jumped by 20 per cent

Property prices are still breaking records, but a surprise region has seen a jump of 20 per cent during the last year.

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The average asking price is going through the roof in some parts of the country. Source: Seven Sharp

This month eight regions across New Zealand hit all-time high average asking prices, and Auckland doesn't even make the list.

Localities like Northland, Waikato, the Central North Island, Bay of Plenty, Nelson and Bays, Canterbury and Central Otago have all seen price hikes since records began 13 years ago.

The biggest mover is Manawatu-Whanganui which has gone up by 20 per cent in the last year alone.

It's a 22 per cent increase year-on-year compared to November 2018.

All this in a year where the average asking price in Auckland declined.

"When you've got demand outweighing supply, the natural laws of economics are going to fall in," says Vanessa Taylor of realestate.co.nz

"We just don't have enough homes," she says.

Ms Taylor has been looking at the trends and says some of the provincial buyers are coming from Auckland.

"Aucklanders are looking to move further afield," she says.

"The way traffic is and rainy afternoons, wouldn't you want to look a little further afield?" she asks.