Suggestions price pressure in the housing market is shifting

The latest QV figures show the average property value increased almost seven percent nationally over the past three months to the end of November.

The national average is now just over one million dollars - an increase of 28.4 percent year-on-year.

QV general manager David Nagel says the supply and demand balance could change as tightening credit rules and rising interest rates reduce buyers, while stock increases.

He says the 6.9 percent national increase is likely to dissipate to closer to one, two or three percent per quarter soon.