House values fell further in June with buyers remaining selective and cautious, government valuer QV says.
Its monthly report on residential property prices shows nationwide values 5.2% above the level of a year ago.
That is down from the 5.6% increase reported in May, which was the first decline in the value change from a year earlier since March 2009.
Values in June were 4.3% below the market peak of late 2007, having been 4.1% lower in May and 3.9% lower in April.