New Zealand house values rose at their fastest annual pace in more than eight years, as demand for Auckland housing overflowed to nearby regions, with Hamilton prices jumping nine per cent over the past three months, according to Quotable Value.

National property values advanced 13 per cent in the 12 months through September to an average $542,277, the state-owned agency said in a statement. Values in Auckland jumped 23 per cent over the same period to $896,676, outpacing a 16 per cent rise in the national average value for urban…