Nationwide residential values have continued to climb in October.
Latest QV figures show values are up 1.9 percent over the past three months - and 5.7 percent over the past year.
That means house values are now 1.1 percent above the previous market peak of late 2007.
Values in Auckland alone are up 9.2 percent over the past year.
Research Director Jonno Ingerson says there's been a late spring surge in activity with both buyer enquiry and the number of sales rising.
He says a lack of listings is constraining the market, particularly in the main centres.