While Dunedin's property market is showing steady growth, there's a downward trend in rural sales.

Less farms have been sold in the past three months, than during last year's corresponding period.

And the median price per hectare is also down.

But it's not all bad news in Otago, with the region seeing a lift in arable land sales.

In the city, plenty of new listings are attracting more first home buyers and investors.

There's increases in the average price for houses, as well as the number of monthly sales.