• Housing Minister Nick Smith was dubbed “The Million-dollar Minister” this morning as the average Auckland house price looks to already have hit $1 million.

Smith was given his new nickname by Patrick Gower when he appeared on TV3’s The Nation on Saturday defending the government’s record on housing.

Gower said the average house price was $1 million in Auckland, though official confirmation of that is not expected until Thursday when QV releases its latest monthly house price figures.

Nick Goodall from CoreLogic, which works closely with QV, said: “I don’t know for sure that the average Auckland house price has hit $1 million, but I would put a fair bet it is given the current rate of increase.”

READ MORE: *House prices climb at $3 million a week

Nick Smith

Nick Smith has earned himself the nickname “Million-dollar Minister” thanks to the rising cost of the average Auckland home.