Auckland's cheapest house is a one-bedroom, one-bathroom home on Haranui Rd in South Head, with a new rateable valuation of $120,000.

This was up $39,000 on the Kaipara Harbour home's 2014 valuation, which was just $81,000.

It was also $45,880,000 cheaper than the Auckland region's most expensive house, a clifftop mansion sitting pretty on Orakei's Huriaro Place with a new valuation of $46 million.

Auckland Council released the new RVs for each of city's 548,000 properties.

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And the four cheapest homes in the Super City were all on the same road, which is described by locals in South Head, a community northwest of Helensville, as being "community-based" and very centred around the local marae.

Tracy Hill is the secretary of Haranui Marae, also based on Haranui Rd.

Hill, who lives at 1 Haranui Rd, said she wasn't hugely surprised by the valuations, or the fact the cheapest home in the greater Auckland region was just down the road from her.

"A lot of the people in this area are living on ancestral land that's been passed down through generations."

The 44-year-old said the area was fairly undeveloped with very little infrastructure. The locals were a tight-knit bunch and many were blood-related.

"It's very community-based here, we have a marae that is in between us all and everyone huis there all the time," she said.

Down the road, Elon Bycroft said his late wife was a cousin of the woman who lives in the city's cheapest house.

Bycroft, 77, has lived in the area for about 50 years. He moved to the street to live with his wife, Rene. Everyone on the street was pretty close, he said.

"They're all family, they all have different things on at the marae - tangi and that sort of thing. I'm sort of the home handyman for the marae."

Bycroft said his wife's family had been based in the area "since way back".

He was similarly unfazed by news that he lived down the road from the city's cheapest home.

"It's just an old house, that's probably why it's priced like that. It's pretty small too, which could be another reason."

In stark contrast to life at South Head, the supercity's most expensive house, excluding flats and apartments, is a seven bedroom clifftop mansion in Orakei with a new rateable valuation of $46 million.

The home was bought in 2013 by businessman Deyi Shi for $39m. The founder and chairman of the Oravida Group and new owner of Ardmore Airport planned to live in the mansion with his wife and two children.

It had shot up $7m in value since its 2014 valuation of $39m.

The mansion owned by New Zealand's richest man, Graeme Hart, took second place, worth $40 million according to latest valuation figures.

In third place was an eight-bedroom property at 77 Waiheke Rd, on Waiheke Island, with a new RV of $39m. This figure was $16m more than its last RV in 2014.