House values continue to climb out of reach of many young Wellingtonians

The latest rating valuations have been released by QV.

Over the past three years the average home value across Wellington city has increased by more than 60 percent.

All of the capital's suburbs now have an average value above a million dollars.

Infometrics principal economist Brad Olsen says Wellington seems to have become a millionaire's paradise.

He says acquiring a house in Wellington continues to be out of reach for young people.