Sky rocketing house prices are being attributed to a lack of land availability in the capital

The latest rating valuations have been released by QV.

Over the past three years the average home value across Wellington city has increased by more than 60 percent.

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

Infometrics principal economist Brad Olsen says we need to work harder to develop more housing in Wellington.

She says the reason why land values have doubled in the city is because of the lack of available land across the board.