Dunedin house values have decreased by 0.4% in the last three months.

But they still remain 1.3% higher than this time last year.

Agents say listings are relatively low across the city, but those on the market are selling fairly quickly, showing some demand.

Two thirds of recent activity has involved houses less than $300,000.

Nationwide the overall value of residential property has risen 1.7% in the last quarter.

And August values are up almost 7% on last year.