New Trade Me figures show the average asking price fell 1.9 percent in the year to May.
Popular inner city suburbs like Parnell, Ponsonby, Remuera and Mission Bay experienced dips.
Wellington's average asking price reached a new high of 660-thousand dollars, up 11.6 percent on this time last year.
Otago's average price also increased 11.3 percent, while the Canterbury median rose four-percent.
