Housing prices are up for the first time in three months, but turnaround hopes may be premature

Cotality's Home Value Index shows following dips in April and May - figures rose 0.2 percent in June.

Tauranga and Christchurch led the pack with a 0.6 percent lift, but Auckland and Wellington had no change.

Cotality's Chief Property Economist Kelvin Davidson says the uptick was nothing to write home about.

He says while the lift is payback for the last few months, the fluctuations are fairly flat on average.