Turning around house prices - is taking a long time

The Real Estate Institute's House Price Index is showing a slight rise on this time last year, but it's still 16.7 percent below the 2021 peak.

Meanwhile, new Cotality figures show about one in 10 properties aren't selling for a profit.

Chief Property Economist, Kelvin Davidson, says it'll take better economic conditions - for all parts of the housing market to pick up.

He says it probably won't move much in the next five-to-six months.