Property analysts say house values are likely to continue a gradual decline this year.
Figures from Quotable Value, show residential property prices fell by 0.9% through 2010.
Auckland, Napier and Nelson were among the few regions where prices moved upwards last year.
There were falls of between 2.2% and 3.3% in Wellington, Hamilton, Tauranga and Dunedin.
Provincial and rural housing values also fell by an average of more than 2%.
Quotable Value, the Property Investors Federation and ANZ Bank chief economist Cameron Bagrie all expect a further decline in prices during 2011.