Anyone who bought a home at the top of the market and wants to sell now is in for a tough ride.
The latest data shows the national average house price dropped over the past year for the first time in more than a decade.
Just out today, the QV House Price Index recorded an average 2.1 percent nationwide fall in values in the 12 months ended September, mirroring other house market data released earlier this week.
QV general manager David Nagel says they haven't bottomed out yet.
He spoke to Guyon Espiner.
