Figures from the Real Estate Institute of New Zealand for October showed the national median selling price was up from $330,000 in September to $335,000.
This was despite a drop in the number of properties sold, from 4499 to 4469. Properties also took less time to sell, down from 53 days to 47.
This continued a downward trend from 55 days in August and 58 in July. However, Otago figures were more of a mixed bag.
The Central Otago Lakes median house price dropped from $480,000 to $475,000 (compared with $545,000 in October 2007) while the median Dunedin price rose from $230,000 to $240,000, the same for October 2007.
Otago branch president Stephen Johnston said the Dunedin market had "remained extremely stable" over the past year.
The median house price in Queenstown showed a significant drop, from $520,000 to $500,000 (down from $614,000 in the same month last year).
In Central Otago Lakes, 79 houses were sold, up from 70 in September.
Days to sell was 68 days, up from 53. Dunedin house sales fell from 190 to 157, but sales were faster, down from 50 days to 38.
"We have just come through a long, cold, wet winter with a later-than-usual spring, which is contributing to renewed interest in the residential market," institute vice-president Peter McDonald said.
He was also buoyed the market was "holding its own" despite the current economic situation and "loss of confidence caused by negative opinions published in the media".
