Property valuer QV says property values steadied in July.
The agency says nationwide property values are now 0.4% below July last year and 5.2% below the market peak in 2007.
QV research director Jonno Ingerson says values have increased in many parts of the country in the last three months, particularly in Canterbury and parts of Auckland.
Christchurch city is up 0.5% compared to last year and Auckland is up 1.9%), while values in Wellington are down 2.7%.
Mr Ingerson says demand for properties in undamaged areas of Christchurch are driving rises there.
Values in Hamilton, Tauranga and Dunedin stayed steady over the last six months after drops in the half year previous to that.
The average sale price rose $1500 during the month to just over $414,000 in July.