Average dwelling values remained almost flat in February, although it's a mixed picture in different parts of the country. QV's figures are a rolling three month average, meaning each month's average value depicts market conditions over the previous three month period. Of the 16 main urban areas covered by the QV HPI, exactly half showed property value declines between January and February and half showed property value increases. Significantly, the country's two largest residential property markets, Auckland and Christchurch, both showed declines in average values between January and February, while Wellington and Dunedin both showed increases. The first table below shows the average value changes between January and February, while the second table shows the quarterly value changes.

Source: Stuff March 12, 2024 00:05 UTC