Property values turn positive - finally

Nationally, values are 0.2% above October last year, up from the -1.1% reported last month.

Values across New Zealand are now 3.4% up from their low in April, although still remain 6.6% below the market peak of late 2007.

A further market measure, distinct from the index, is the national average sale price which also increased slightly to $389,198 in October from $387,567 in September.

However, there remains a shortage of properties on the market which is inevitably causing an imbalance within the market and pushing prices higher.