Property price appreciation in New Zealand slowed for the eighth consecutive month, according to a recent report.

Quotable Value reveals that the average national price for the three months to September was $344,748, 1.2% higher than the $340,473 average recorded for the previous quarter. Annually, national average property prices are 10.4% higher in the latest quarter compared with the same period in 2005.

A strong rise in lending figures suggests that property prices may soon rise again.