Property values are slightly higher on an annual basis for the first time since August last year.  

The latest QV property index shows the national average house value in February is 0.6% higher than the same time last year.  

However, it's still 13% lower than the market's peak in 2021.  

QV Operations Manager James Wilson told Mike Hosking that the market is still really volatile. 

He said that they’re seeing a large number of listings, which quells demand and subsequently quells prices to a degree. 

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