House prices are continuing to rise at an alarming rate, jumping by almost 20 percent in October on the same time last year, according to the Real Estate Institute's monthly report.
Auckland's median price has hit the $1-million mark for the first time, while the national median house price is now $725,000.
ANZ says on a month-by-month basis, those figures show prices have increased a mammoth three percent on September - the last time the country experienced a monthly rise that large was 17 years ago.
ANZ's Senior Economist, Miles Workman, spoke to Māni Dunlop.
