Would-be buyers are being advised to snap up quality properties as values continue to climb in an already competitive market.
In the three months to August, residential property values rose 1.6 per cent.
For the past year the figure is 4.8 per cent, with main centres showing the biggest increases, according to figures from government valuer Quotable Value.
The figures showed strong competition in Auckland was forcing buyers further out from highly sought-after central suburbs, affecting prices in Waitakere, the North Shore, and Manukau in particular, research director Jonno Ingerson said.
In those areas the average house prices for the past three months were $426,300, $642,900, and $485,600 respectively.
"We know there's demand for properties close to the city, good school zones, that sort of thing, but it's really expensive to live there and so as the markets continue to increase in value over the last year and a half in Auckland in particular, people have had to look elsewhere," Mr Ingerson said.
Areas close to the CBD, such as Sandringham and Mt Albert, showed values catching up to the rest of central Auckland.
In Auckland, like the rest of the country, a shortage of listings and investors returning to the market motivated by low interest rates were also having a national effect, said Mr Ingerson.
When buyers found a quality property he recommended acting quickly.
"The message for buyers is you're probably not going to have a lot of choice. Those properties that you do find, (you're) probably going to see fair bit of competition over it so you're going to have to be prepared to put your best foot forward or move fairly quickly."
Inner city suburbs remained popular "with significant peaks", said Real Estate Institute of New Zealand chief executive Helen O'Sullivan.
Figures released this week by the institute showed Auckland city sales had climbed 23 per cent in August compared with the same time last year.
Christchurch values have also showed a strong increase in property values, rising 1.4 per cent in the last three months and 5.5 per cent over the year, according to QV.
"Some of that (earthquake) unaffected stuff is selling very well at the moment so there's absolutely no surprises," said QV valuer Daryl Taggart.
"The ones that are fine, free of damage or have been repaired - the agents are reporting demand and a lot of buyers through."
Property values in Canterbury's Waimakariri and Selwyn districts were increasing faster than anywhere else in the country, up 13.4 per cent to $359,700 and 14.4 per cent to $434,700 respectively in the past year.
Their short distance from the city and rural lifestyle were big drawcards said Mr Taggart.
Wellington property values remained flat - up about 2 percent since this time last year, according to the QV figures.
Dunedin values increased only 1.1 per cent, but there was still strong interest at the lower end of the market.
In Hamilton values rose 1.3 per cent over the past three months and 3.5 per cent higher than the same time last year, with first home buyers and investors driving the lower end of the market.
Values in provincial centres remained fairly stable over the past year, with changes falling within a 2.2 per cent band.
The exception was Gisborne, down 3.6 per cent over the past year.
