An end of year property report has revealed a surprise North Island hotspot

In OneRoof's Valocity report, Gisborne's median house value has jumped 37 percent in the last 12 months, from 140-thousand dollars, to 515-thousand dollars.

OneRoof editor Owen Vaughan says a year ago, there was little to no interest in property in Gisborne.

He says prices have shot up.

He says Gisborne was one of the country's most affordable housing markets, and now, its crossed half a million dollars in its median value.

And in Auckland, the inner city suburb of Herne Bay is on the way to becoming the country's first ever three million dollar suburb - with the median price up to two-million-955-thousand dollars.