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What sort of house does $1 million buy?

Thursday 22 Nov 2012 7:24 p.m.

The price of the Kiwi home is back in the news. Big time.

Labour is promising to build 100,000 homes for first time buyers, the Greens want to restrict the ability of overseas buyers to buy here, and the Government recently said it'll speed up the Resource Management Act to make it cheaper and easier for developers to build homes.

Meanwhile the Reserve Bank Governor is warning banks of the risks of excessive household indebtness.

So yes, a very big topic - and it's all based one staggering new statistic.

Last month Auckland real estate agency Barfoot and Thompson said their average sale price hit $618,000 dollars.

That is $618,000 on average for a house in our largest city.

So what does that house look like, and while we're at it, what does a million dollars buy you these days?

Tristram Clayton went to find out.

Watch the video.

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