House prices have surpassed the one-million-dollar mark in Auckland

The latest Real Estate Institute figures for February show nationwide, prices rose 3.1 percent to 790-thousand in the year.

There's also been a substantial rise in listings -- and the days to sell has reduced, compared to last February.

Chief Executive Jen Baird says the election brought some certainty -- and Government changes around landlords interest deductibility have had an impact.

She says that's removing disincentives for property investors, but with relatively high interest rates, it's still an expensive market to be in.