Wellington's housing market remains on the weaker end of the scale

New analysis from Cotality, formerly CoreLogic, shows property values in parts of Auckland and Wellington are more than 20 percent off their highs, seen in the Covid-era boom.

Chief Property Economist, Kelvin Davidson, says given how far prices have fallen in the capital, some people might be starting to see value again.

He says interest rates have come down so that might start to turn the market around.