The housing market appears to have rebounded

OneRoof figures for the three months to the end of March show property values in 60 percent of the country's suburbs up year-on-year.

The strongest lifts are in higher-value Christrchurch suburbs, including Merivale and Fendalton, and low-priced suburbs in West Coast.

OneRoof Editor Owen Vaughan says a year ago the market was in a fairly fragile state.

He says prices were dropping and interest rates were rising.