An expectation a turnaround in the property market is on the horizon

CoreLogic NZ's latest data shows property values have fallen nationally by nearly 18 percent from their post-COVID peak.

In December, the national figure edged down by another 0.2 percent - the ninth fall in the past 10 months.

Chief Property Economist Kelvin Davidson says lower mortgage rates will likely boost sales volumes and property values soon.

He says there won't be a fresh boom in house prices, but more modest increases.