Wellington home owners have seen eye-watering property value increases over the past three years

The latest rating valuations have been released for the first time since 2018.

Over the past three years the average home value across Wellington city has increased by more than 60 percent ... to more than one-point-four million dollars.

All of the capital's suburbs now have an average value above one-million dollars ... and land value across the city has increased to more than 980-thousand.

Wellington first home buyer Lara says it was a nervous wait to see what their newly bought property was valued at.

She's stoked about the fact it was revalued at 880-thousand because it's more than what they paid for initially.

Meanwhile, Auckland Council has delayed its valuations for a third time, having been told more work is needed on the numbers.